The average unleaded gasoline price for California residents on May 30, 2011, was $4.12 per gallon. Assuming
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The average unleaded gasoline price for California residents on May 30, 2011, was $4.12 per gallon. Assuming that the base period (price index = 100) is 1996 and that the unleaded gasoline price for that year was $1.10 per gallon, compute the average price index for the unleaded gasoline price for the year 2011.
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