In the Case in Point titled "Take Me Out to the Ball Game . . .", the average price of the baseball fan market basket (based on the cost of the basket for 30 major league baseball teams) was $219.53 in 2016. The cost of attending a Boston Red Sox game was $360.66 in 2016. Calculate the fan price index for the Boston Red Sox using the average price of the market basket as the equivalent of a base year.
A) 0.58
B) 1.70
C) 1.64
D) 4.01
Correct Answer:
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