Eastland College is concerned about the rising price of textbooks that students must
Chapter 0, Problem 7(choose chapter or problem)
Eastland College is concerned about the rising price of textbooks that students must purchase. To better identify the increase in the price of textbooks, the dean asks you, the Economics Departments star student, to create an index of textbook prices. The average student purchases three English, two math, and four economics textbooks. The prices of these books are given in the accompanying table. a. What is the percent change in the price of an English textbook from 2008 to 2010? b.What is the percent change in the price of a math textbook from 2008 to 2010? c. What is the percent change in the price of an economics textbook from 2008 to 2010? d. Using 2008 as a base year, create a price index for these books for all years. e. What is the percent change in the price index from 2008 to 2010?
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