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Roberto a senior citizen who consumes food and ... Bookmark

Question : Roberto a senior citizen who consumes food and ... Bookmark : 4712

Roberto is a senior citizen who consumes food and ... Bookmark Roberto is a senior citizen who consumes food and health care. When he retired in 2002, hehe consumed 90 meals and 3 medical checkups per month. Suppose in 2002 that the price of a meal was $10 and the price of a medical checkup was $79. However, in 2012, the price of a meal is $11 and the price of a medical checkup is $317. As a result, Roberto consumes 100 meals and 2 medical checkups per month. Calculate a Laspeyres cost-of-living index for Roberto using 100 as the base in 2002. Next, calculate a Paasche cost-of-living index for Roberto using 100 as the base in 2002. In particular, the Paasche index for 2012 is ?.

 

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