In 2008, the average price of the baseball fan market basket (based on the cost of the basket for 30 major league baseball teams) was $191.92.The cost of attending a Boston Red Sox game was $320.71 in 2008.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) 0.59
B) 0.67
C) 1.67
D) 4.01
Correct Answer:
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