Given below are the average wholesale prices of four commodities, A, B, C, and D.WeightAverage wholesale priceCommodity%20112012201320142015304.506.007.509.0010.50В4010.008.0012.0012.0015.00102.002.503.004.005.00201.503.004.506.0012.00Taking 2011 as the base, calculate the price index number for 2012, 2013, 2014 and 2015 bysuitable method.ABCD

Sum of prices of 2011 = 4.50 + 10 + 2 + 1.50 = 18 Sum of price of 2012 = 6 + 8 + 2.50 + 3 = 19.5 Sum…

prices of comm Weight % Average wholesale price Commodity 2011 2012 2013 A 30 4.50 6.00 7.50 40 10.00 8.00 12.00 C 10 2.00 2.50 3.00 D 20 1.50 3.00 4.50 Taking 2011 as the base, calculate the price index number for 2012, 20

prices of comm Weight % Average wholesale price Commodity 2011 2012 2013 A 30 4.50 6.00 7.50 40 10.00 8.00 12.00 C 10 2.00 2.50 3.00 D 20 1.50 3.00 4.50 Taking 2011 as the base, calculate the price index number for 2012, 20

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Given below are the average wholesale prices of four commodities, A, B, C, and D.
Weight
Average wholesale price
Commodity
%
2011
2012
2013
2014
2015
30
4.50
6.00
7.50
9.00
10.50
В
40
10.00
8.00
12.00
12.00
15.00
10
2.00
2.50
3.00
4.00
5.00
20
1.50
3.00
4.50
6.00
12.00
Taking 2011 as the base, calculate the price index number for 2012, 2013, 2014 and 2015 by
suitable method.
ABCD

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