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Business, 24.04.2020 01:04 pierceybbpow8o39

A consumer expenditure survey reports the following information on entertainment spending: 2008 2009 Price Quantity Price Quantity Movies $7 5 $8 7 Concerts $30 2 $35 2 CDs $16 7 $15 10 Using 2008 as the base year, by how much does a "cost of entertainment" index increase between 2008 and 2009?

a. 3.9 percent
b. 8.6 percent
c. 13.4 percent
d. 29.4 percent

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