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1. Suppose that people consume only three goods, as shown in this table: a. What is the percentage change in the price of each of

1. Suppose that people consume only three goods, as shown in this table:

a. What is the percentage change in the price of each of the three goods? What is the percentage change in the overall price level?

b. Do tennis racquets become more or less expensive relative to Gatorade? Does the well-being of some people change relative to the well-being of others? Explain.

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