4. Use the following data to compute the College Price Index for 2017 using the base 1987 = 100. %3D Price in Quantity 1987 Item Price in per Month 2017 in 1987 Button-down shirts $10 1 $25 Loafers 25 1 55 Sneakers 10 3 35 Textbooks 12 12 40
4. Use the following data to compute the College Price Index for 2017 using the base 1987 = 100. %3D Price in Quantity 1987 Item Price in per Month 2017 in 1987 Button-down shirts $10 1 $25 Loafers 25 1 55 Sneakers 10 3 35 Textbooks 12 12 40
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Answer to number 4

Transcribed Image Text:4. Use the following data to compute the College Price
Index for 2017 using the base 1987 = 100.
%3D
Price in Quantity
1987
Item
Price in
per Month 2017
in 1987
Button-down shirts $10
1
$25
Loafers
25
1
55
Sneakers
10
3
35
Textbooks
12
12
40
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