Microeconomics,, 16th Canadian Edition

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Problems


7. Suppose you want to create a price index for the price of a
particular physics textbook over 10 years in your university
bookstore. The price of the book on September 1 of each year is
as follows:

Year Price ($) Year Price ($)

2009 85 2015


2010 87 2016


2011 94 2017


2012 104 2018


2013 110 2019


2014 112


a. The base year is 2009. Construct a physics textbook price
index.
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