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(Table) the Associated Table Provides a Hypothetical Bundle of Goods

Question 28

Multiple Choice

(Table) The associated table provides a hypothetical bundle of goods and their respective prices for three different years. If 2014 is selected as the base year, the cost of the market basket in 2017 would be would be:  Product Q2010Q2014Q2017P2010P2014P2017 Apples (5-lb. bag)  101112$3.00$4.00$4.25 Coffee beans (1-lb. bag)  505055$8.00$9.00$10.00 Cereal (28-oz. box)  202529$3.50$3.75$3.75\begin{array} { | l | c | c | c | c | c | c | } \hline \text { Product } & \mathbf { Q } _ { 2010 } & \mathbf { Q } _ { 2014 } & \mathbf { Q } _ { 2017 } & \mathbf { P } _ { 2010 } & \mathbf { P } _ { 2014 } & \mathbf { P } _ { 2017 } \\\hline \text { Apples (5-lb. bag) } & 10 & 11 & 12 & \$ 3.00 & \$ 4.00 & \$ 4.25 \\\hline \text { Coffee beans (1-lb. bag) } & 50 & 50 & 55 & \$ 8.00 & \$ 9.00 & \$ 10.00 \\\hline \text { Cereal (28-oz. box) } & 20 & 25 & 29 & \$ 3.50 & \$ 3.75 & \$ 3.75 \\\hline\end{array}


A) $520.50.
B) $587.75.
C) $640.50.
D) $651.75.

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