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The following table shows the price of the average movie ticket sold for the last three years. Using the year 2011 as the base year, calculate the price index for each year. Year Price Price index Show how you computed 2010 $7.89 2011 $7.93 2012 $7.96

The following table shows the price of the average movie ticket sold for the last three years. Using the year 2011 as the base year, calculate the price index for each year. Year Price Price index Show how you computed 2010 $7.89 2011 $7.93 2012 $7.96

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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14. The following table shows the price of the average movie ticket sold for the last three years. Using the year 2011 as the base year, calculate the price index for each year. Price index Year Price Show how you computed 2010 $7.89 2011 $7.93 2012 $7.96
Transcribed Image Text:14. The following table shows the price of the average movie ticket sold for the last three years. Using the year 2011 as the base year, calculate the price index for each year. Price index Year Price Show how you computed 2010 $7.89 2011 $7.93 2012 $7.96
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