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06-03-2020
Business

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A south sea island produces only coconuts. In 2010, the price of a coconut is $2.50 and the quantity produced is 300. In 2017, the price of a coconut is $2.00 and the quantity produced is 350. 2010 is the base year. Real GDP in 2017 is ______.

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edegberedemption99 edegberedemption99

08-03-2020

Answer:

$875

Explanation:

Since the base year is 2010, the real GDP in 2017 is given as the quantity of coconut produced in 2017 multiplied by the price of coconut in 2010

That is;

350 × $2.5 = $875

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