Question

The table below lists the prices and quantities consumed of three different goods from 2010 2012. Quantity ty 15 a For 2010, 2011, and 2012, detemine the amount that a typical censumer pays each yea to purchase the quantities listed in the table above Instructions: Round your answers to the nearest whole number Consumer expenditurc 220 S Instruction:s b. The percentage change in the amount the consumer paid was C. It is problematic to use your answers to part b as a measure ot inflation because Click lo selecl) d Sup nee we tal e 2010 a t e nase year imp in thar me market hasket I fixed a 2010 c sumphon level Using 2010のonsum t n i els the rate ot intat on was Round ycur answers to one dccimal placc. 25.06 frm 2010 to 2011, and 56.3 torn 2011 to 2012. %, trom 2010 to 2011, and trom 20011 to 2012 Repeat the exercise from pnt d now assuming that the bese yeer is 2011. Using 2011 consumption levels. the rete of inflation from was 20.0 % from 2010 to 2011, snd 45.0 % from 2011 to 2012 L. Your answers rom parls d and e were diflerent becaus thebase ears put difterent weights on the good5

Answer 1