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Suppose that in 2014 the total output in a single good economy was 7,000 buckets of chicken. Also, suppose that in 2014 each bucket of

Suppose that in 2014 the total output in a single good economy was 7,000 buckets of chicken. Also, suppose that in 2014 each bucket of chicken was priced at $10. Finally, assume that in 2017 the price per bucket of chicken was $16 and that 22,000 buckets were purchased. Calculated the real price index for 2017 by using the 2014as the base year.

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