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Use the following information for questions 1 - 6. We have data for a two-good economy that includes food and clothing for 2 quarters. The
Use the following information for questions 1 - 6. We have data for a two-good economy that includes food and clothing for 2 quarters. The price of food is $10 per unity and the price of clothing is $25 per unit. Quantity information for both goods for both quarters is provided in the table below. Assume there is no existing inventory for either food or clothing at the beginning of quarter 1. Q1 Q2 Food Production Quantity 3,750 1,800 Sales Quantity 2,625 1,170 Clothing Production Quantity 4,200 3,150 Sales Quantity 2,520 3,864
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