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Perform these same calculations for 2017 and 2018, and enter the results in the following table. 2016 2017 2018 Price Cost Price Cost Price Cost

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Perform these same calculations for 2017 and 2018, and enter the results in the following table. 2016 2017 2018 Price Cost Price Cost Price Cost Quantity in Basket (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) Notebooks 10 5 50 7 11 Calculators 1 100 100 110 140 Large coffees 150 1 150 1 1 Energy drinks 50 100 3 4 Textbooks 10 100 1,000 120 150 Total cost 1,400 Price index 100 Suppose the base year for this price index is 2016. In the last row of the table, calculate and enter the value of the USPI for the remaining years. Between 2016 and 2017, the USPI increased by % . Between 2017 and 2018, the USPI increased by % Which of the following, if true, would illustrate why price indexes such as the USPI might overstate inflation in the cost of going to university? Check all that apply. Energy drinks became increasingly popular on university campuses between 2016 and 2018 due to significant improvements in flavour. O A new mobile device for personal computing became available for purchase. O Professors required each student to buy 10 textbooks, regardless of the price. O As the price of calculators rose, fewer students decided to buy them, opting instead to use the free calculators in their cell phones or on their computers. O A large percentage of students now buy their textbooks online, while the USPI uses data from university bookstores that increase the prices of textbooks by a larger percentage per year than online retailers

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