What is the percentage change in the price of each of the three goods?

Bo Show more Suppose that people consume only three goods as shown in this table: Tennis Balls Golf Balls Bottles of Gatorade 2014 price $2 $4 $1 2014 quantity 100 100 200 2015 price $2 $6 $2 2015 quantity 100 100 200 What is the percentage change in the price of each of the three goods? Using a method similar to the consumer price index compute the percentage change in the overall price level. If you were to learn that a bottle of Gatorade increased in size from 2014 to 2015 should that information affect your calculation of the inflation rate? If so how? If you were to learn that Gatorade introduced new flavors in 2015 should that information affect your calculation of the inflation rate? If so how? Show less

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