Question
1.Suppose a group of consumers spends 30% of its disposable income on food, 20% on clothing and 50% on rent.If over the course of the
1.Suppose a group of consumers spends 30% of its disposable income on food, 20% on clothing and 50% on rent.If over the course of the year the price of food rose 10%, the price of clothing dropped 5% and rent rose 15%, what was the simple and weighted average price increase experienced by the consumers?
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MIS Management Information Systems
Authors: Hossein Bidgoli
8th edition
978-1337406932, 1337406937, 978-1337406925, 1337406929, 978-0357004357
