Assume a market basket includes three avocados, two loaves of bread, two dozen eggs, and a seasoning packet. Item Price base year ($) Price current year ($) Avocado (per each) 1.25 1.50 Bread (per loaf) 2.99 3.19 Eggs (per dozen) 4.00 4.50 Seasoning (per packet) 1.50 1.25 According to the table shown, what is the change in the price level between the base year and the current year? Please type out the correct answer ASAP with proper explanation thank you
Assume a market basket includes three avocados, two loaves of bread, two dozen eggs, and a seasoning packet. Item Price base year ($) Price current year ($) Avocado (per each) 1.25 1.50 Bread (per loaf) 2.99 3.19 Eggs (per dozen) 4.00 4.50 Seasoning (per packet) 1.50 1.25 According to the table shown, what is the change in the price level between the base year and the current year? Please type out the correct answer ASAP with proper explanation thank you
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Assume a market basket includes three avocados, two loaves of bread, two dozen eggs, and a seasoning packet.
Item | Price current year ($) | |
Avocado (per each) | 1.25 | 1.50 |
Bread (per loaf) | 2.99 | 3.19 |
Eggs (per dozen) | 4.00 | 4.50 |
Seasoning (per packet) | 1.50 | 1.25 |
According to the table shown, what is the change in the price level between the base year and the current year?
Please type out the correct answer ASAP with proper explanation thank you
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