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QUESTION

The prices and quantities for a typical family's weekly egg and bacon purchases in 1935 and 2018 are shown below.

The prices and quantities for a typical family's weekly egg and bacon purchases in 1935 and 2018 are shown below. (The numbers were rounded from real statistics - families were large in 1935, and they ate a LOT of bacon!)

QUESTIONUse this data to calculate a Laspeyres price index for 2018, using 1935 as the base year. Show your work.

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