Will's expenditures on food for three consecutive years, along with other values, are presented in the table below. Year 2009 2010 2011 Expenditures on Food $5,000 $5,800 $6,600 Consumer Price Index 160.0 168.0 Will's 2009 food expenditures in 2010 dollars amount to: $5,500. $5,250. $4,975. $3,625.
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- Suppose that in the year 2010, Celestial Electronics planned toproduce 950,000 units of its portable GPS devices. Of the950,000 it planned to produce, a total of 25,000 units wouldbe added to the inventory at its new plant in Florida. Alsoassume that these units have been selling at a price of $100each and that the price has been constant over time. Supposefurther that this year the firm built a new plant for $5 millionand acquired $2.5 million worth of equipment. It had noother investment projects, and to avoid complications,assume no depreciation.Now suppose that at the end of the year, Celestial had produced950,000 units but had only sold 900,000 units and that invento-ries now contained 50,000 units more than they had at thebeginning of the year. At $100 each, that means that the firmadded $5,000,000 in new inventory.a. How much did Celestial actually invest this year?b. How much did it plan to invest?c. Would Celestial produce more or fewer units next year? WhyQ8- Suppose the quantity demanded weekly of the Super Titan radical tires is related to its unit price by equation p+x^2=241, where p is measured in dollars and x is measured in units of a thousand. How fast is the quantity demanded changing when x= 13, p= 72, and the price/tire is increasing at the rate of $7/ week? Round the answer to the nearest integer. Dropping at the rate of _______ tires/wkLet's assume that prices substantially increased over the past year. How do you expect this will affect people's buying behavior? Be sure to tie this back to economic concepts discussed in this course. Time Atten 33 M.