Solution-An index of two store items for 2007 based on 2004

An index of two store items for 2007 based on 2004 is to be

Reference no: EM13575349

An index of two store items for 2007 based on 2004 is to be constructed. The information for the prices and quantities for both years is given below. Use 2004 as the base period and 100 as the base value.

	2004		2007
Item	Price ($)	Quantity	Price ($)	Quantity

Item 1	70	485	81	520
Item 2	33	1267	42	1377

For full marks your answer should be accurate to at least one decimal place.

Determine Laspeyres' price index.

Reference no: EM13575349

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An index of two store items for 2007 based on 2004 is to be

Reference no: EM13575349

Reference no: EM13575349

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