The widget industry maintains a price index for a standard


The widget industry maintains a price index for a standard collection of widgets. The base year was 1997 until 2007, when the index was recomputed with 2007 as the base year. The following data concerning prices for the years 2005 to 2008 are available:

Year

Price Index 1997 Base

Price Index 2007 Base

2005

125

N/A

2006

127

N/A

2007

130

100

2008

N/A

110


What was the percentage increase in prices of widgets between 2005 and 2008?

Request for Solution File

Ask an Expert for Answer!!
Business Management: The widget industry maintains a price index for a standard
Reference No:- TGS02171399

Expected delivery within 24 Hours