Using 2013 as a base period, compute a simple price index for each of the following commodities.
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Price in 2013 $2.49 $199 Price in 2014 Commodity Bread (loaf) Bus pass Clothing $2.58 $220 $1650.00 $1600.00
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Interpretation The price of bread increased 361 from 2013 to 2014 ...View the full answer
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Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0134141084
11th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
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