The consumer price index for Planet Econ consists of only two items: books and sandwiches. In 2000, the base year, the typical consumer purchased 10 books for $20 each and 25 sandwiches for $3 each. In 2005, the typical consumer purchased 15 books for $25 each and 30 sandwiches for $4.50 each. The consumer price index for 2005 on Planet Econ equals: Select one: O a. 1.31 O b. 0.54 O c. 1.85 O d. 0.76

The consumer price index for Planet Econ consists of only two items: books and sandwiches. In 2000, the base year, the typical consumer purchased 10 books for $20 each and 25 sandwiches for $3 each. In 2005, the typical consumer purchased 15 books for $25 each and 30 sandwiches for $4.50 each. The consumer price index for 2005 on Planet Econ equals: Select one: O a. 1.31 O b. 0.54 O c. 1.85 O d. 0.76

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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