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Boston College is concerned about the rising price of textbooks that students must purchase. To better identify the increase in the price of textbooks, the
Boston College is concerned about the rising price of textbooks that students must purchase. To better identify the increase in the price of textbooks, the dean asks you, the Economics Department's star student, to create an index of textbook prices. The average student purchases three English, two math, and four economics textbooks per year. The prices of these books are given in the following table. 2015 2016 | 2017 English Textbook $100 $110 $114 Math Textbook $140 $144 $148 Economics Textbook $160 $180 $200 (a) What is the percent change in the price of an English textbook from 2015 to 2017? (b) What is the percent change in the price of a math textbook from 2015 to 2017? (c) What is the percent change in the price of an economics textbook from 2015 to 2017 ? (d) Using 2016 as a base year, create a price index for these books for all years. (e) What is the percentage change in the price index from 2015 to 2017
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