Asimple economy produces two goods,
apple pies
and
technical manuals.
price and quantity data are as follows:
production and prices in year 1 (base year)
product
quantity
price per unit
apple piesapple pies
100
$3.00
technical manualstechnical manuals
550
$45.00
production and prices in year 2
product
quantity
price per unit
apple piesapple pies
125.00
$4.50
technical manuals
825.00
$90.00
in year 2, nominal gdp is equal to:
$,
and real gdp is

$

(enter both responses rounded to the nearest penny).

Exercise 2-12 cost behavior; high-low method [lo2-3, lo2-4] speedy parcel service operates a fleet of delivery trucks in a large metropolitan area. a careful study by the company’s cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents per mile. if a truck is driven only 80,000 miles during a year, the average operating cost increases to 13.6 cents per mile. required: 1.& 2. using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (round the "variable cost per mile" to 3 decimal places.)