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c) The table below applies to an economy with only two goods - hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and

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c) The table below applies to an economy with only two goods - hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs. Year Price of hamburgers Price of hot dogs 2009 $5.00 $3.00 2010 5.50 3.30 2011 5.61 3.63 Based on table above, using 2009 as the base year. Solve the following questions. (i) Compute the consumer price index for each year (ii) Compute the inflation rate for 2010 and 2011

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