Assume an individual spends all his or her income on goods X and Y. The prices paid and quantities consumed are: Px= $15, X=20, Py, $25, and Y= 30. Next year, the prices are Px=$6 and Py= $30

a) Is the person better or worse off than in the previous year if he or she has an income of $1020? Justify your answer.

B) Compute the CPI