Year Price of a pound of Bacon (10 units) Price of a dozen Eggs (15 units) Price of a pound of Coffee (20 units) 1 $5.50 $1.75 $4.00 2 $5.25 3 $5.50 $2.00 $2.00 $4.50 $5.00 Use the information in the table above to calculate the CPI in Year 2, using Year 1 as the base year. Round to the nearest whole number.
Year Price of a pound of Bacon (10 units) Price of a dozen Eggs (15 units) Price of a pound of Coffee (20 units) 1 $5.50 $1.75 $4.00 2 $5.25 3 $5.50 $2.00 $2.00 $4.50 $5.00 Use the information in the table above to calculate the CPI in Year 2, using Year 1 as the base year. Round to the nearest whole number.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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