The table below shows the price and quantity on three food items in 2021 and 2023. item Packet of Chips Soft drink can Muffin 2021 Price 28.50 13.00 9.00 O A. 125.33 OB. 105.67 OC. 94.79 OD. 133.51 Quantity 50 35 120 2023 Price 30.00 14.50 9.50 Calculate the Laspeyres Quantity Index for the dataset above Quantity 70 55 138

The table below shows the price and quantity on three food items in 2021 and 2023. item Packet of Chips Soft drink can Muffin 2021 Price 28.50 13.00 9.00 O A. 125.33 OB. 105.67 OC. 94.79 OD. 133.51 Quantity 50 35 120 2023 Price 30.00 14.50 9.50 Calculate the Laspeyres Quantity Index for the dataset above Quantity 70 55 138

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

ChapterA: Working With Diagrams

Section: Chapter Questions

Problem 9QP

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Prepare a graph of the monthly forecasts and average forecast demand for Garden Room Furniture Ltd., a manufac-turer of outdoor furniture. MONTH PRODUCTION DAYS DEMAND FORECASTJanuary 16 300February 16 300March 23 500April 21 500May 22 800June 22 1000July 21 1200August 20 1500September 20 900October 20 500November 16 300December 16 300
TABLE 12.1 | Two Stage Least Squares Estimates of the Demand for Cigarettes Using Panel Data for 48 U.S. States Dependent variable: In(Qfte) – In(Qfte) cigarettes Regressor (1) (2) (3) In(Peisarettes) - In(Pçigarettes -0.94** -1.34** -1.20** i,1995 i,1985 (0.21) (0.23) (0.20) In(Inc;1995) – In(Inc;1985) 0.53 (0.34) 0.43 (0.30) 0.46 (0.31) Intercept -0.12 -0.02 -0.05 (0.07) (0.07) (0.06) Both sales tax and Instrumental variable(s) Sales tax Cigarette-specific tax cigarette-specific tax First-stage F-statistic 33.70 107.20 88.60 Overidentifying restrictions J-test and p-value 4.93 (0.026) These regressions were estimated using data for 48 U.S. states (48 observations on the 10-year differences). The data are described in Appendix 12.1. The J-test of overidentifying restrictions is described in Key Concept 12.6 (its p-value is given in parentheses), and the first-stage F-statistic is described in Key Concept 12.5. Individual coefficients are statistically significant at the *5%…
FORCASTING Month Time QJan 1 46Feb 2 56Mar 3 72Apr 4 67May 5 77Jun 6 66Jul 7 69Aug 8 79Sep 9 88Oct 10 91Nov 11 94Dec 12 104Jan ?Feb ? Make a forecast of the demand for the month of January and February
Part C 3. The manager of a certain gasoline station wants to forecast the demand for the unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The manager has accumulated the following data demand for unleaded gasoline from sales during the past eight months. Month Gasoline Demanded (gallons) Mar 900 Given that the forecast for March is 920. Apr 755 May 650 Jun 550 Jul 625 Aug 730 Sept 820 Oct 1 100 a. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.25. b. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.45. c. Plot the actual demand and the forecasts determined in part a and b on the same graph and compare them. d. Make a comparative analysis out of your answers in the plotted data. (3-5 sentences)
Consider that the quantity of Milk A sold will increase by 50%, the sales revenue of Milk A will decrease by 25%, and the price is determined by sales revenue divided by quantity sold. Which of the following best describes the expected change in Milk A's price in April, compared to March? January February March Milk A Quantity Sold Sales Revenue Quantity Sold 500 800 400 $3,000 $4,400 $2,400 Milk B 1200 1500 950 Select the single best answer: A. increase by 25% B. decrease by 50% C. decrease by 25% D. decrease by 15% E. no change Sales Revenue $5,000 $6,000 $4,400 Quantity Sold Milk C 600 550 700 Sales Revenue $3,400 $3,300 $5,000
Price ($) a) Suppose that the demand for pizzas were to increase by 120 pizzas per day. Show the new demand, in the graph below: Plot the two end points using the tool provided in the graphing area below. Plot only the end points of the curve and position those points on the edge of the graphing area. 64 56 48 40 32 24 16 8 0 40 80 120160200240 280 320 360 400 440 480 S D Tools Demand Help i Save & Exit Submit
The following graph shows the monthly demand and supply curves in the market for tote bags. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per tote bag) 80 72 64 58 48 40 32 24 16 8 0 X 0 50 100 150 200 250 QUANTITY (Tote bags) Supply 300 350 400 450 500 The equilibrium price in this market is $ Demand Graph Input Tool Market for Tote bags Price (Dollars per tote bag) Quantity Demanded (Tote bags) per tote bag, and the equilibrium quantity is Price (Dollars per tote bag) Shortage or Surplus 48 32 24 Shortage or Surplus Amount (Tote bags) 500 Quantity Supplied (Tote bags) Pressure tote bags per month. Complete the following table by indicating at each price whether there is a shortage or surplus in the market, the amount of that shortage or surplus, and whether…
5.01 EC11_Effect on Supply and Demand WS VPN 11% Done EFFECTS ON SUPPLY AND DEMAND Directions: Event #1: Listed below are 10 events which could have some influence on the supply and demand of a product. On a clean sheet of paper, clearly label each event and record your answers. Read each of these events, and decide which factors that affect either consumers or sellers (utility, buying power, price of other goods and services, consumers, cost of production, number of producers, future prices, disasters and emergencies, government, or technology) (use I for each "event") are represented. You will also need to identify which group (consumers or sellers) it would influence. Event #2: A company introduces a new product intended to help college students improve their ability to take tests. The corn crop in one state was damaged by heavy rains and floods. Event #3: One pair of jeans looks the same as another pair but costs much less. Event #4: A candy manufacturer gives large pay increases…
Forecast the demand for the rice for a country for the year 2019 on the basis of 7-year data given in table: Year 2012 2013 2014 2015 2016 2017 2018 Population (millions) 10 12 15 20 25 30 40 Rice consumed (million tonnes) 40 50 60 70 80 90 100
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PRICE (Dollars per CD) 20 18 16 14 2 0 0 S₂ S₁ 1 2 1 4 5 6 7 QUANTITY (Millions of CDs) 8 9 10 Because you understand the law of supply, you can deduce that the correct graphical representation of the supply for CDs must be you know that at a price of $10 per CD, the is five million CDs. Moreover,