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jake82 jake82
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A year ago
The table below shows hypothetical prices for a particular anatomy textbook at a university bookstore over several years.

YearPrice
2018$180
2019$185
2020$205
2021$215
2022$220

TABLE 2-4

Refer to Table 2-4. 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:

▸ (215 - 180) = 35.

▸ 215/180 = 1.194.

▸ (180/215) × 100 = 83.7.

▸ 180/215 = 0.837.

▸ (215/180) × 100 = 119.4.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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CodybarnesCodybarnes
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A year ago
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