PRODUCT Product X Product Y Product Z YEAR 2000 2001 2002 2003 2004 price: $2.00 $3.00 $4.00 $5.00 $6.00 quantity: 1,000 1,000 1,000 1,000 1,000 1,000 price: $1.00 $1.00 $1.00 $1.00 $1.00 quantity: 1,000 1,250 1,500 1,750 2,000 price: $4.50 $4.75 $5.00 $5.50 $6.00 quantity: 1,000 1,000 1,000 1,000 1,000
PRODUCT Product X Product Y Product Z YEAR 2000 2001 2002 2003 2004 price: $2.00 $3.00 $4.00 $5.00 $6.00 quantity: 1,000 1,000 1,000 1,000 1,000 1,000 price: $1.00 $1.00 $1.00 $1.00 $1.00 quantity: 1,000 1,250 1,500 1,750 2,000 price: $4.50 $4.75 $5.00 $5.50 $6.00 quantity: 1,000 1,000 1,000 1,000 1,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
The price index for 2004, based in 2002, using the 2000 market basked is ____.
![PRODUCT
Product X
Product Y
Product Z
YEAR
2000 2001 2002 2003
2004
price:
$2.00 $3.00 $4.00 $5.00 $6.00
quantity:
1,000 1,000
1,000
1,000 1,000
price:
$1.00 $1.00 $1.00 $1.00 $1.00
quantity: 1,000 1,250 1,500 1,750 2,000
price: $4.50 $4.75 $5.00 $5.50 $6.00
quantity: 1,000
1,000 1,000 1,000 1,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa56f5148-ac69-440f-afc9-0f30fd0c715d%2F4c6c6040-b2de-4f0a-8c70-f272619df095%2F5byw44p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:PRODUCT
Product X
Product Y
Product Z
YEAR
2000 2001 2002 2003
2004
price:
$2.00 $3.00 $4.00 $5.00 $6.00
quantity:
1,000 1,000
1,000
1,000 1,000
price:
$1.00 $1.00 $1.00 $1.00 $1.00
quantity: 1,000 1,250 1,500 1,750 2,000
price: $4.50 $4.75 $5.00 $5.50 $6.00
quantity: 1,000
1,000 1,000 1,000 1,000
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