Question

Assume that an economy produces only three goods: marshmallow bunnies, eggs, and Easter baskets. In 1998, 200 packages of bunnies were sold at a price of $1 each, 500 dozen eggs were sold at $0.80 per dozen, and 90 Easter baskets were sold at $10 each. Find the total expenditures on these goods in 1998

Answer 1

$1500

Explanation:

The unit price of each item is listed. As well as the "number of units" of that particular item.

We find total cost of each item by multiplying the unit cost with number of units of that item.

Then we will SUM UP all of the 3 to find the total expenditure.

200 bunnies @ $1 each ----- 200 * 1 = $200

500 dozen eggs @ $0.80 per dozen ------ 500 * 0.8 = $400

90 easter basket @ $10 each ------- 90 * 10 = $900

Total expenditure = 200 + 400 + 900 = $1500