**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 CalculationHanna, 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 bottle2. **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

Given that, Hanna's parents buy each month 32 pounds of pasta 79 packages of yogurt 22 bottles of…

Month January February March April Pasta (dollars per Yogurt (dollars per pound) $1.83 1.90 2.07 2.26 package) $1.14 1.04 0.95 1.04 Lemonade (dolla: bottle) $2.58 2.35 2.54 2.77 nstructions: Round your answers to two decimal places. . Compute the total monthly cost of Hanna's meals and indicate whether inflation, d occurred during these months. In January, the total monthly cost was $ In February, the total monthly cost was $ In March, the total monthly cost was $ and (Click to select) and (Click to select)

Month January February March April Pasta (dollars per Yogurt (dollars per pound) $1.83 1.90 2.07 2.26 package) $1.14 1.04 0.95 1.04 Lemonade (dolla: bottle) $2.58 2.35 2.54 2.77 nstructions: Round your answers to two decimal places. . Compute the total monthly cost of Hanna's meals and indicate whether inflation, d occurred during these months. In January, the total monthly cost was $ In February, the total monthly cost was $ In March, the total monthly cost was $ and (Click to select) and (Click to select)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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