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tlc_71111 tlc_71111
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5 years ago

The output produced in bushels and the price of this output ($/bushel) for Robert Holden over the last three years are as follows:





 
 
   
   
   
   
 
 
YearOutputPriceConsumer Price Index


 
 
   
   
   
   
 
 
19987,000$3.201.10


 
 
   
   
   
   
 
 
19997,500$2.901.20


 
 
   
   
   
   
 
 
20008,000$2.801.15


Assume that the only source of income for Robert Holden is from the production of this output. The best year in terms of real income for Robert Holden was



• 1998.

• 1999.

• 2000.

• Can't tell; insufficient information.
Textbook 
Introduction to Agricultural Economics

Introduction to Agricultural Economics


Edition: 7th
Authors:
Read 198 times
2 Replies
Do What Makes You Come Alive

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wrote...
#1
5 years ago
1998.
tlc_71111 Author
wrote...
#2
5 years ago
Good timing, thanks!
Do What Makes You Come Alive
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