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Unformatted text preview: ev is ed jrl 08082011 Worksheet Section: Measuring Changes in
Consumer Welfare Using Costof
Living Indexes Arnold spends all his money on sunscreen and lemonade. In June he bought 5 ounces of sunscreen at $1.00
per ounce and 20 gallons of lemonade at $1.20 per gallon. In July he bought 7 ounces of sunscreen at $1.10
per ounce and 18 gallons of lemonade at $1.70 per gallon. In August he bought 3 ounces of sunscreen at
$1.40 per ounce and 23 gallons of lemonade at $1.80 per gallon.
a. Create a Laspeyres price index...
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This note was uploaded on 01/22/2014 for the course ECO 3352 taught by Professor Ax during the Fall '13 term at Troy.
- Fall '13