Question: Using 2003 as the base period, compute a simple price index for each of the following commodities. Correct to 4 decimal places. Commodity Price in

Using 2003 as the base period, compute a simple price index for each of the following commodities. Correct to 4 decimal places. Commodity Price in 2003 Price in 2004 Price Index Bread (loaf) $1.62 $1.73 3 Zone bus pass $114 $123 Suit $465 $390

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