b. Covid 19 pandemic has force the people in the economy Love & Laughter, to consume only 2 goods, food and clothing. The CPI is derived from the market basket of goods which consists of 25 units of food and 5 units of clothing. Clothing $20 FOOD 2018 price per unit 2019 price per unit $8 $12 $40 (i). What are the percentage increases in the price of food and in the price of clothing? (ii). What is the percentage increase in the CPI? (iii). Do these price changes affect all consumers to the same extent? Explain.

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