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Let us reconsider the case of Ronald in Problem 4. Let the prices and consumptions in the base year be as in situation D, where p1 = $3, p2 = $1, x1 = 5, and x2 = 15. If in the current year, the price of good 1 is $1 and the price of good 2 is $3, and his current consumptions of good 1 and good 2 are 25 and 20 respectively, what is the Laspeyres price index of current prices relative to base year prices? (Pick the most nearly correct answer.)
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