Question 13 - What is the value of 2013 production in 2012 Sr MSN.com Hotmail. O

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Question 13 - What is the value of 2013 production in 2012

Sr MSN.com Hotmail. Outlook. Chamberlain University XWeek 5: MEL HomeworkX Do Homework - Pamela Harris X https://wwww.mathxl.com/Student/PlayerHomework.aspx?homeworkld Q Search Principles of Economics Pamela Harris 11/24/17 11:37 AM Homework: Week 5 Homework 35 pts Save Score: 0 of 1 pt 13 of 35 (22 complete) HW Score: 61.9%, 21.67 of 35 pts Appendix Test A 2 Question Help * The table shows some data for an island economy which produces only herbal teas and hot chocolate. The base year is 2012 Calculate the value of 2013 production in 2012 prices and the percentage increase in production when In 2012 Item Herbal teas Hot chocolate Quantity 93 58 Price $7 each $6 each valued at 2012 prices. The value of 2013 production in 2012 prices is $ In 2013 Item Herbal teas Hot chocolate Quant 105 68 Price $4 each S4 each Enter your answer in the answer box and then click Check Answer Clear All Check Answer 13h 1:38 PM Type here to search 11/24/20173

Explanation / Answer

Value of 2013 in 2012 prices is 105*7+68*6=1143

Value of 2012 in 2012 prices =93*7+58*6=999

%increase in production=144/999*100=14.41%

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