7 Example 13. Compute Fisher's Ideal quantity index number from the following data:Сommodity20042005Price (Rs.)Total value (Rs.)PriceTotal value (Rs.)A550448В8.48749C18520

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Answered: Example 13. Compute Fisher's Ideal…

MATLAB: An Introduction with Applications

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The following table shows the average monthly production of coal in tonnes for the Year Production Year Production (in tonnes) (in tonnes) 50.0 38.1 36.5 43.0 2010 2011 2012 2013 2014 44.5 38.9 2015 2016 2017 2018 2019 32.6 41.7 41.1 33.8 year 2010-2019. a) Compute the price indices from 2010 to 2019 by taking 2019 as the base year. Compare the price of 2014 and 017. c) What is the percentage (%) change in the production from 2016 to 2019?
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Price elasticity of demand (supply) or simply elasticity of demand (supply) measures the relative or percentage variation experienced by the quantity demanded (supplied) as a consequence of a change in the price of one percent (1%); In other words, it measures the intensity with which buyers (sellers) respond to a change in the priceprice. Elasticity is often used with respect to the price-demand relationship or the price-supply relationship, but the applicability of this concept is not restricted to that single case, but is broader, since the elasticity is calculated in percentages, since it is the only way to obtain a common unit of measure. When calculating the elasticity in arelationship, the units of measurement are maintained, therefore, they do not measure a proportional change, but a propensity, such as the well-known propensit to Keynesian consumption. The rate at which the selling price changes and from a product, with respect to its supply "x", is given by the following…
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Example 13. Compute Fisher's Ideal quantity index number from the following data: Соmmodivy 2004 2005 Price (Rs.) Total value (Rs.) Price Total value (Rs.) A 5 50 4 48 В 8. 48 7 49 6 18 20