Business, 02.07.2020 23:01 Mepps9949

Assume that households consume only hot dogs and soda; the average household consumes 12 hotdogs and 20 bottles of soda. In 1995, a hot dog was $0.90 each and soda $0.50 each. In 2003, hotdog price went up to $1.25, and soda price went up to $1.00. If 2003 is the base year, then the price index in 1995 would be:

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Assume that households consume only hot dogs and soda; the average household consumes 12 hotdogs and...

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