Robinson crusoe is a castaway, stranded on a lonely island with only a hand full of resources. to stay alive he picks off apples, grows barley, and washes it down with some cool coconut milk. in his leisure time he carves wooden drumsticks (to jam on rocks) and earplugs for whenever he gets tired listening to himself. some time, he starts recording his activities to bring structure to his outcast life. use the table of the prices and quantities robinson documented in 2017 and 2018 to make an assessment on the state of his economy. assume that 2017 is the base year. goodsprices2017quantities 2017prices2018quantities 2018apple110002900barley24001700coc onut32002250drumsticks10502010earpl ugs5201010a) compute the inflation rate in 2018. show your work. b) what is nominal gdp (ngdp) in 2017 & 2018? compute ngdp growth as well. show your work. c) what is real gdp (rgdp) in 2017 & 2018? note that gdp deflator2017 = 100 & gdp deflator2018 = 103.125. compute rgdp growth as well. show your work. d) explain your results to robinson. especially emphasize the distinction between ngdp and rgdp and why it makes sense to differentiate between the two. make sure to relate your arguments to your calculations above. e) in real-life, would production contributions from outcasts such as robinson crusoe who live off the grid be counted in gdp? why or why not? (3 sentences max.)

Table 1. shows the expected demand for the dvd at different suggested donation levels, and they can act as a single-price monopolist if they choose to. thereceipts will be used to fund gstcg supplies for their data collection and conservation work. at the end of each sea turtle nesting season, any excess funds are donated by the gstcg to a local non-profit sea turtle research and rehabilitation facility. table 1 suggested anticipated total marginal profit donation per number of dvd revenue revenue dvd request requests $19.00 0 $15.00 2 $9.50 4 $7.75 10 $3.00 15 $0.00 20 a. complete table 1 by computing the total revenue, marginal revenue, and profit columns. b. the president wants the gstcg to provide videos to generate the most possible donations (total revenue). what price, if any, is the president of the gstcg favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. c. the education outreach committee wants the gstcg to provide videos to the highest possible number of people. what price, if any, is the educational outreach committee favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. d. the treasurer of the gstcg wants the dvd program to be as efficient as possible so that the marginal revenue equals marginal cost. what price, if any, is the treasurer favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. e. the fundraising committee wants the dvd program to generate as much profit in donations as possible. what price, if any, is the fundraising committee favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer.