In a particular very small region, the consumer price index, C, depends on the current value of gross regional domestic expenditure E, number of people living in poverty P, and the average number of houschold members in a family F, by the following formula: e Ep C = 100 + %3D If it is known that the gross regional domestic expenditure is decreasing at a rate of PHP 50 per year, and the number of people living in poverty and the average number of houschold members in a family are incrcasing at 3 and 1 per year, resp., how fast does the consumer price index change per year at the moment when E = 1,000, P = 200, and F = 5?

In a particular very small region, the consumer price index, C, depends on the current value of gross regional domestic expenditure E, number of people living in poverty P, and the average number of houschold members in a family F, by the following formula: e Ep C = 100 + %3D If it is known that the gross regional domestic expenditure is decreasing at a rate of PHP 50 per year, and the number of people living in poverty and the average number of houschold members in a family are incrcasing at 3 and 1 per year, resp., how fast does the consumer price index change per year at the moment when E = 1,000, P = 200, and F = 5?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter15: Poverty And Economic Inequality

Section: Chapter Questions

Problem 36CTQ: Explain how a country may experience greater equality in the distribution of income, yet still...

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III. In a particular very small region, the consumer price index, C, depends on the current valuc of gross regional domcstic expenditure E, number of people living in poverty P, and the average number of household members in a family F, by the following formula: 3 e-Ep C = 100 + F If it is known that the gross regional domestic expenditure is decreasing at a rate of PHP 50 per year, and the number of people living in poverty and the average number of household members in a family are increasing at 3 and 1 per year, resp., how fast does the consumer price index change per year at the moment when E = 1,000, P = 200, and F = 5?
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