The price (in R) and quantity of a basket of three items for the years 2019 and 2021 are given in the tablebelow. 2019 2019 2021 2021 ITEM Price Quantity Price Quantity X 100 200 150 250 Y 40 60 70 80 Z 20 90 40 110 Using 2019 as the base year, what is the Laspeyre’s price index for this basket of items?
The price (in R) and quantity of a basket of three items for the years 2019 and 2021 are given in the tablebelow. 2019 2019 2021 2021 ITEM Price Quantity Price Quantity X 100 200 150 250 Y 40 60 70 80 Z 20 90 40 110 Using 2019 as the base year, what is the Laspeyre’s price index for this basket of items?
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter7: Applying Fractions
Section7.1: Ratios
Problem 21WE
Question
The price (in R) and quantity of a basket of three items for the years 2019 and 2021 are given in the table
below.
| 2019 | 2019 | 2021 | 2021 | |
| ITEM | Price | Quantity | Price | Quantity |
| X | 100 | 200 | 150 | 250 |
| Y | 40 | 60 | 70 | 80 |
| Z | 20 | 90 | 40 | 110 |
Using 2019 as the base year, what is the Laspeyre’s price index for this basket of items?
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