Quiz 3 (30 points) Year Hot dog Price Hamburger Price 2010 $1 $2 2011 $2 $3 2012 $3 $4 a. ) The typical consumer buys a basket of 4 hot dogs and 2 hamburgers per year. Compute the total cost of the basket for the years 2010, 2011, 2012. b. ) 2010 is the base year Compute the Consumer Price Index (CPD) inflation rates in 2011, and 2012. 2. Briefly explain the concept of substitution bias