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Ashurbanipal Ashurbanipal
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2 years ago
The table below shows hypothetical monthly cell phone plan fees for the identical service over several years.

2018$55
2019$50
2020$40
2021$35
2022$25

TABLE 2-2

Refer to Table 2-2. Assume that 2018 is used as the base year, with the index number = 100. The value of the index number in 2021 is calculated as follows:

▸ (35/55) × 100 = 63.64.

▸ 35/55 = 0.64.

▸ (35/100) × 100 = 35.

▸ (55/35) × 100 = 157.14.

▸ 55/35 = 1.57.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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MariannaGMariannaG
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2 years ago
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