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16-02-2024
Business

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The consumer price index for Planet Ecch consists of only two items: books and hamburgers. In 2018, the base year, the typical consumer purchased 10 books for $20 each and 200 hamburgers for $1 each.
A. Calculate the CPI for 2018
B. Identify the inflation rate in 2018
C. Determine the weighted average price
D. Assess the consumer surplus

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