Problem
Geoffrey spends his allowance on three items: candy, magazines, and movie video rentals. He is currently receiving an allowance of $34 per month, which he is using to rent 4 movies at $3 apiece, buy 10 candy bars at $1 apiece, and purchase 4 magazines at $3 apiece. In each of the following cases, calculate Geoffrey's price index (CPI) for this basket of goods, with the current price level equal to 100:
(a) The price of movies rises to $4.
(b) The price of movies increases by $1 and the price of candy bars falls by $0.20.
(c) The prices of movies and magazines both increase by $1 and the price of candy bars falls by $0.20.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.