ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Transcribed Image Text:**Hanna's Meals**
| Month | Pasta (dollars per pound) | Yogurt (dollars per package) | Lemonade (dollars per bottle) |
|-----------|----------------------------|------------------------------|-------------------------------|
| January | $1.83 | $1.14 | $2.58 |
| February | 1.90 | 1.04 | 2.35 |
| March | 2.07 | 0.95 | 2.54 |
| April | 2.26 | 1.04 | 2.77 |
**Instructions**: Round your answers to two decimal places.
a. Compute the total monthly cost of Hanna's meals and indicate whether inflation, deflation (negative inflation), or no inflation occurred during these months.
- In January, the total monthly cost was $ _______ .
- In February, the total monthly cost was $ _______ and (Click to select) ___________.
- In March, the total monthly cost was $ _______ and (Click to select) ___________.
- In April, the total monthly cost was $ _______ and (Click to select) ___________.
b. If Hanna's parents want to buy the same quantity of pasta, yogurt, and lemonade, how much more money will they have to spend during the month of April compared to January?
$_______
![### Hanna's Meals Expense Calculation
Hanna, who is a 5-year-old girl, eats nothing but pasta, yogurt, and lemonade. Each month her parents buy 32 pounds of pasta, 79 packages of yogurt, and 22 bottles of lemonade. Hanna's parents have recorded the prices per unit of pasta, yogurt, and lemonade for the last four months, as shown in the table below.
#### Hanna's Meals
| Month | Pasta (dollars per pound) | Yogurt (dollars per package) | Lemonade (dollars per bottle) |
|----------|----------------------------|------------------------------|-------------------------------|
| January | $1.83 | $1.14 | $2.58 |
| February | 1.90 | 1.04 | 2.35 |
| March | 2.07 | 0.95 | 2.54 |
| April | 2.26 | 1.04 | 2.77 |
#### Instructions:
Round your answers to two decimal places.
a. Compute the total monthly cost of Hanna's meals and indicate whether inflation, deflation (negative inflation), or no inflation occurred during these months.
- In January, the total monthly cost was \$______ .
- In February, the total monthly cost was \$______ and [Click to select].
- In March, the total monthly cost was \$______ and [Click to select].
- In April, the total monthly cost was \$______ and [Click to select].
b. If Hanna's parents want to buy the same quantity of pasta, yogurt, and lemonade, how much more money will they have to spend during the month of April compared to January?
- \$______
### Detailed Explanation:
To solve these problems, follow these steps:
#### a. Calculate Monthly Costs:
1. **January:**
- Pasta: 32 pounds * $1.83 per pound
- Yogurt: 79 packages * $1.14 per package
- Lemonade: 22 bottles * $2.58 per bottle
2. **February:**
- Pasta: 32 pounds * $1.90 per pound
- Yogurt: 79 packages * $1.04 per package
- Lemonade: 22 bottles * $2.35 per bottle
3. **March:**
- Pasta: 32](https://content.bartleby.com/qna-images/question/8fd4da40-7187-46ad-a720-1a755a4a2f27/903436e4-07a8-4096-8a8b-3b7b9990c71f/k0zzwg_processed.png)
Transcribed Image Text:### Hanna's Meals Expense Calculation
Hanna, who is a 5-year-old girl, eats nothing but pasta, yogurt, and lemonade. Each month her parents buy 32 pounds of pasta, 79 packages of yogurt, and 22 bottles of lemonade. Hanna's parents have recorded the prices per unit of pasta, yogurt, and lemonade for the last four months, as shown in the table below.
#### Hanna's Meals
| Month | Pasta (dollars per pound) | Yogurt (dollars per package) | Lemonade (dollars per bottle) |
|----------|----------------------------|------------------------------|-------------------------------|
| January | $1.83 | $1.14 | $2.58 |
| February | 1.90 | 1.04 | 2.35 |
| March | 2.07 | 0.95 | 2.54 |
| April | 2.26 | 1.04 | 2.77 |
#### Instructions:
Round your answers to two decimal places.
a. Compute the total monthly cost of Hanna's meals and indicate whether inflation, deflation (negative inflation), or no inflation occurred during these months.
- In January, the total monthly cost was \$______ .
- In February, the total monthly cost was \$______ and [Click to select].
- In March, the total monthly cost was \$______ and [Click to select].
- In April, the total monthly cost was \$______ and [Click to select].
b. If Hanna's parents want to buy the same quantity of pasta, yogurt, and lemonade, how much more money will they have to spend during the month of April compared to January?
- \$______
### Detailed Explanation:
To solve these problems, follow these steps:
#### a. Calculate Monthly Costs:
1. **January:**
- Pasta: 32 pounds * $1.83 per pound
- Yogurt: 79 packages * $1.14 per package
- Lemonade: 22 bottles * $2.58 per bottle
2. **February:**
- Pasta: 32 pounds * $1.90 per pound
- Yogurt: 79 packages * $1.04 per package
- Lemonade: 22 bottles * $2.35 per bottle
3. **March:**
- Pasta: 32
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