contestada

If there are five goods in a barter economy, one needs to know ten prices in order to exchange one good for another. If, however, there are ten goods in a barter economy, then one needs to know ________ prices in order to exchange one good for another.

Respuesta :

segehood

Answer:

45

Explanation:

In a barter economy, to know the price when multiple goods are involved, we use the following formula:

Prices = n(n-1) ÷ 2

Where

n = number of goods.

Now, given that

n = 10 goods,

Therefore,

Prices = 10(10-1) ÷ 2

= 10(9) ÷ 2

= 90 ÷ 2

= 45

Hence, the price one needs to know in order to exchange 10 goods in a barter economy is 45.

Otras preguntas