Bananas. Price and Quantity information of these items over a period are shown bel Year 2019 Year 2020 Average Price per Unit Average Price per Unit Product Quantity Quantity Apples 13 $10 $16

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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The consumers in the economy buys only two general types of products: Apples, and
Bananas.
Price and Quantity information of these items over a period are shown below:
Year 2019
Year 2020
Average Price
per Unit
Average Price
per Unit
Product Quantity
Quantity
Apples
13
$10
9.
$16
Bananas
11
$15
$16
Using year 2020 as the base year, the economy's consumer price index (CPI) in
year 2019 is
(Your answer should include the first decimal point, if any.)
Your Answer:
Answer
Transcribed Image Text:The consumers in the economy buys only two general types of products: Apples, and Bananas. Price and Quantity information of these items over a period are shown below: Year 2019 Year 2020 Average Price per Unit Average Price per Unit Product Quantity Quantity Apples 13 $10 9. $16 Bananas 11 $15 $16 Using year 2020 as the base year, the economy's consumer price index (CPI) in year 2019 is (Your answer should include the first decimal point, if any.) Your Answer: Answer
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