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Suppose hair cuts cost $20 last year and $30 this year, and the overall price index rose from 110 last year to 120 this year.
Suppose hair cuts cost $20 last year and $30 this year, and the
overall price index rose from 110 last year to 120 this year.
How much did 1000 hair cuts
cost in the Base year? ( Can you please provide explanation)
a. $11,000.
b. $12,000.
c. $25,000.
d. $30,000.
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