Use the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given. Price Quantity Item 2010 2018 2010 2018 Aluminum (cents per pound) $ 0.82 $ 0.86 1,000 1,200 Natural gas $ per million BLA 4.37 2.99 5,000 4,000 Petroleum (barrel) 71.21 58.15 60,000 60,000 Platinum (troy ounce) 1,743.60 1,292.53 500 600
Use the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given. Price Quantity Item 2010 2018 2010 2018 Aluminum (cents per pound) $ 0.82 $ 0.86 1,000 1,200 Natural gas $ per million BLA 4.37 2.99 5,000 4,000 Petroleum (barrel) 71.21 58.15 60,000 60,000 Platinum (troy ounce) 1,743.60 1,292.53 500 600
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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Use the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given.
| Price | Quantity | ||||||||||||
| Item | 2010 | 2018 | 2010 | 2018 | |||||||||
| Aluminum (cents per pound) | $ | 0.82 | $ | 0.86 | 1,000 | 1,200 | |||||||
| Natural gas $ per million BLA | 4.37 | 2.99 | 5,000 | 4,000 | |||||||||
| Petroleum (barrel) | 71.21 | 58.15 | 60,000 | 60,000 | |||||||||
| Platinum (troy ounce) | 1,743.60 | 1,292.53 | 500 | 600 | |||||||||
Transcribed Image Text:Compute a simple price index for each of the four items. Use 2010
as the base period. (Round your answers to 1 decimal place.)
Item
Simple price index
Aluminum
Natural gas
Petroleum
Platinum
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