Question

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

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)

Homework Answers

Answer #1

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

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