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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