HW chap 6-2

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Unformatted text preview: the Laspeyres index for August, which is 8.861 percent higher than for July, is 1.483. Expenditures in July at July's prices are: (1.10)7 + (1.70)18 = $38.30. 7 ounces of sunscreen and 18 gallons of lemonade is the base bundle, where the Laspeyres index equals 1.000. http://e z to.mhe c loud.mc gr a w- hill.c om/hm.tpx? todo= pr intvie wSingle 2/3 1/21/2014 Assignme nt Pr int Vie w The cost of July's bundle in June is: (1.00)7 + (1.20)18 = $28.60. This is a difference (from June to July) of 38.30 – 28.60 = $9.70, or 9.70 / 28....
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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.

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