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Suppose a group of consumers spends 30% of its disposable income on food, 20% on clothing and 50% on rent. If over the course of
- Suppose a group of consumers spends 30% of its disposable income on food, 20% on clothing and 50% on rent. If over the course of the year the price of food rose 10%, the price of clothing dropped 5% and rent rose 15%, what was thesimple and weighted averageprice increase experienced by the consumers?
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Financial & Managerial Accounting
Authors: Carl Warren
12th Edition
1285534646, 978-1133952428
