Be organize please

11:48 - 'n' as \\* souc ..I 72%.: Home Work Assignment 4 (24 points maximum) Calculation of Consumer Price Index and Rate of Inflation: In Hampston, there are only 3 goods: pp.ocorn movie shows and diet drinks. The following table shows the prices and quantities produced of these goods in 1980, 1990, and 1991: I Mox'le Shows Dial Drunks A "market bundle" for a typical family is deemed to be 5 pp.ocorn 3 movie shows and 3 diet drinks. Q.1. Compute the consumer price index (CPI) for each of the three years, using 1980 as the base year (4 points) Q.2. what was the rate of inflation from 1990 to 1991, using the CPI you calculated in (Q1)? (4 points) Q.3. Now compute the CPI for each of the three years, using 1990 as the base year instead of 1980 but using the same "market bundle." (4 points) Q.4. what was the rate of inflation from 1990 to 1991, using the CPI you calculated in (Q3)? Is it the same as your answer to (Q.2.)? (4 points) (1.5. Now suppose that a new market bundle is defined; the "market bundle" is now 6 popcorn, 2 movie shows and 4 diet drinks. Compute the CPI for the three years, using this "market bundle" and using 1980 as the base year. (4 points) (1.6. what was the rate of inflation from 1990 to 1991, using the CPI you calculated in (Q.5.)? Explain why it is different from your answer to (Q.2.)? (4 points)