(i) Determine the Paasche’s quantity index for 2021. (ii) Determine the Laspeyre’s price index for 2021. Question 4Below are the prices of red chilli, green chilli and dry chilli for the year 2011 and 2021. Alsoincluded are the quantities purchased. Use 2011 as the base year.(a)Item20112021Price(RM)7.70Quantity500g800g500gPrice(RM)11.70Red chiliGreen chiliDry chiliQuantity600g1kg300g4.009.007.508.50

Year 2011 2021 Item P Q P Q Red Chilli 7.7 500 11.7 600 Green Chilli 4 800 9 1000 Dry Chilli…

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Determine the Paasche’s quantity index for 2021. (ii) Determine the Laspeyre’s price index for 2021.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Publisher:NEWNAN

Chapter1: Making Economics Decisions

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(i) Determine the Paasche’s quantity index for 2021.
(ii) Determine the Laspeyre’s price index for 2021.

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