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Table 24-8 The table below relates to the economy of Mainland, where the typical

ID: 2439466 • Letter: T

Question

Table 24-8 The table below relates to the economy of Mainland, where the typical consumer's market basket consists of 2 televisions and 300 hamburgers rice of a televsionPrice of a hamburger ear 013 014 015 550 500 $2 Refer to Table 24-8. The cost of the basket O a. increased from 2013 to 2014 and increased from 2014 to 2015. O b. increased from 2013 to 2014 and decreased from 2014 to 2015 O c. decreased from 2013 to 2014 and increased from 2014 to 2015 d. decreased from 2013 to 2014 and decreased from 2014 to 2015 Type here to search

Explanation / Answer

Answer is b. Increased from 2013 to 2014 and decreased from 2014 to 2015 Price Price Price Basket Cost Product Quantity 2013 2014 2015 2013 2014 2015 TV 2 600 550 500 1200 1100 1000 Hamburgers 300 2 3 2 600 900 600 Total 1800 2000 1700