The CPI denotes the relative cost of the bundle of goods and services Compute the Big Mac price years Y and Z given the information in base year X Assume the Big Mac price varies directly with the CPI $1.95 US price of a Big Mac in base year X 108 US CPI in base year X CPI, Year Y CPI, Year Z Big Mac, Year Y Big Mac, Year Z 150 300 $2.71 $5.42 95 92 $1.72 $1.66 150 275 $2.71 $4.97 101 103 $1.82 $1.86 450 575 $8.13 $10.38 175 85 $3.16 $1.53