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please answer the following questions Question 1 Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have

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please answer the following questions

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Question 1 Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to "Calculate," you must show how you arrived at your nal answer. Prices Product Market Basket of Goods 2010 2015 Mocha coffee 100 cups $2.00 per cup $2.50 per cup Sweet pudding 50 quarts $1.50 per quart $2.20 per quart Cassava leaf salad 25 packages $1.00 per package $1.20 per package The nation of Kona cultivates coffee beans and cassava, from which all their consumer goocs are produced, (a) Calculate the cost of the market basket of goods in the table in 2010 and in 2015 . Show your work. (b) Use 2010 as the base year to calculate the price indices for 2010 and 2015 for the market basket of goods in the table. Show your work, (c) In order for a citizen of Kona to maintain the same standard of living between 2010 and 2015 ,what percentage change in nominal income would be needed? Explain

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