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Find the fixed market basket food faddist price index

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Reference no: EM131638639

Question: The Food Faddist Price Index. A food faddist eats only steak, rice, and ice cream. In 1995, he bought:

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After a visit from his mother, he adds oranges to his diet. Oranges cost $0.56/pound in 1995. Here are the food faddist's food purchases in 2005:

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Find the fixed market basket Food Faddist Price Index (1995 = 100) for the year 2005.

Reference no: EM131638639

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