Using 2010 as the Base Year, the 2012 Value of a Simple

question 35

Multiple Choice

Using 2010 as the base year, the 2012 value of a simple price index for the following price data is _____________. $$\begin{array} { | c | c | c | c | c | c | c | } \hline \text { Year} & 2008 & 2009 & 2010 & 2011 & 2012 & 2013 \\\hline \text { Price } & 29,88 & 32.69 & 42.04 & 46.18 & 47,98 & 48.32 \\\hline\end{array}$$

• A)77.60
• B)114.13
• C)160.58
• D)99.30
• E)100.00

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Definitions:

Output Increases

A situation where a firm or economy produces a greater quantity of goods or services.

Total Variable Cost

The sum of expenses that vary directly with the level of production output, excluding any fixed costs.

Marginal Cost

The additional cost incurred from producing one more unit of a product or service.

Decreasing Rate

A situation where the rate of growth or progression reduces over time.