Chart 1 shows the distribution by value of top 6 suppliers of MFA Textiles in 1995. Chart 2 shows the distribution by quantity of top 6 suppliers of MFA Textiles in 1995. The total value is 5760 million Euro (European currency). The total quantity is 1.055 million tonnes.
Question: 1
The country which has the highest average price is:
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The country with the largest share of value usually has the highest price per unit, as value is a function of both quantity and price.
From Chart 1, the distribution by value shows Switzerland has the highest share, accounting for 20% of the value of MFA textiles.
In Chart 2, the total value is 5760 million Euros, and Switzerland has a 20% share in terms of value, meaning it contributed 1152 million Euros in value.
Since Switzerland has the highest share of value compared to the quantity share, it implies that Switzerland has the highest average price for MFA textiles.
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Question: 2
The average price in Euro per kilogram for Turkey is roughly:
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To calculate the average price, divide the total value by the total quantity for the specific country.
From Chart 1, the value of MFA textiles from Turkey is 16%, and from Chart 2, the quantity from Turkey is 15%.
- The total value = 5760 million Euros.
- The total quantity = 1.055 million tonnes (or 1,055,000 kilograms).
- Turkey's value = \( 5760 \times 0.16 = 921.6 \) million Euros.
- Turkey's quantity = \( 1.055 \times 0.15 = 0.15825 \) million tonnes, or 158,250 kilograms.
Thus, the average price per kilogram for Turkey is:
\[
\frac{921.6 \text{ million Euros}}{158,250 \text{ kilograms}} = 5.82 \text{ Euros per kilogram}.
\]
So, the closest answer is approximately 4.20 Euros per kilogram.
