Question

The table below shows the prices, price relatives, and quantity sold of three models of a factory.

Product	Price		Price relative (2002 = 100)	Quantity sold in 2002
	2002	2003
A	2	P	125	150
B	Q	45	120	75
C	16	24	R	110

(a)        Find the values of P, Q and R.                               (P = 2.5, Q = 37.5 R = 150)

            Hence, calculate

(b)        a Laspeyres price index for the products sold in 2003.            (131.144)

Answer 1

Answer:----- Date:----1/5/2020