(02.04 HC) Assume that an economy produces only two goods, A…

(02.04 HC) Assume that an economy produces only two goods, A and B. In the base year, it produces 2 units of A at a price of $2 and 4 units of B at a price of $4. If the next year it produces the same quantity of each good with a $1 price increase for both, what is the consumer price index for that year?

(02.04 HC) Assume that only two goods are produced in an eco…

(02.04 HC) Assume that only two goods are produced in an economy, A and B. In the base year, 6 units of A are produced at a price of $3 and 5 units of B are produced at a price of $2. And in the given year, 6 units of A are produced at a price of $2 and 5 units of B are produced at a price of $6. What is the CPI for the given year?