ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Assume a market basket includes three avocados, two loaves of bread, two dozen eggs, and a seasoning packet.
Item | Price current year ($) | |
Avocado (per each) | 1.25 | 1.50 |
Bread (per loaf) | 2.99 | 3.19 |
Eggs (per dozen) | 4.00 | 4.50 |
Seasoning (per packet) | 1.50 | 1.25 |
According to the table shown, what is the change in the price level between the base year and the current year?
Please type out the correct answer ASAP with proper explanation thank you
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