Compute the price of a bundle containing goods

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The short run price elasticity of demand for tires is 0.9, if a tire store raises the price of the tire from? $50 to $60, by what percentage should it expect the quantity of tires sold to change?"

The consumer price index (CPI) is a food-weight index. It compares the price of a fixed bundle of goods in one year with the price of the same bundle of goods in some base year. Compute the price of a bundle containing 100 units of good X, 150 units of good Y, and 25 units of good Z.

Reference no: EM1351245

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