Suppose that before the end of the year a typical consumer purchased 125 apples,60 bananas, and 85 oranges.Year 1Year 2Price of applePrice of banana0.75 $0.900.200.45Price of orange240.25 $0.60What is the price index for year 2, using year 1 as the base year (round to the nearestfull number)?

Here, quantity and price of three products are given for year 1 and year 2 with having year 1 as…

Suppose that before the end of the year a typical consumer purchased 125 apples, 60 bananas, and 85 oranges. Year 1 Year 2 Price of apple 2$ 0.75 $ 0.90 Price of banana 2$ 0.20 | $ 0.45 Price of orange 0.25 $ 0.60 What is the price index for year 2, using year 1 as the base year (round to the nearest full number)?

Suppose that before the end of the year a typical consumer purchased 125 apples, 60 bananas, and 85 oranges. Year 1 Year 2 Price of apple 2$ 0.75 $ 0.90 Price of banana 2$ 0.20 | $ 0.45 Price of orange 0.25 $ 0.60 What is the price index for year 2, using year 1 as the base year (round to the nearest full number)?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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