This assignment has to do with cost and supply and I dont understand it at all.
In 1974, one could buy a theater ticket for $1.25. Today, the same theater ticket costs $6.50. Which pair of CPIs would imply that the cost in todays dollars was the same for both tickets?
a. 60 in 1964 and 390 today.
b. 75 in 1964 and 390 today.
c. 80 in 1964 and 404 today.
d. 95 in 1964 and 475 today.
NAME: ______________________________________________________________________ ECON 2301-01: Microeconomics Summer II 2011 Homework Assignment #2 7-21-2011 Due on July 25, 2011. Late submission will not be accepted. Show your work wherever required. You will only receive partial points without showing your work even your answer is correct. Please remember to write your name on your homework. Consider the following demand and supply functions: P = 200 3Qd P = 20 + Qs 1. Graph the demand and supply curves and confirm the equilibrium values (10 points).