TABLE 16-1
Given below are the average prices for three types of energy products for five consecutive years.
-Referring to Table 16-1, what is the Laspeyres price index for the group of three energy items in year 4 for a family that consumed 15 units of electricity, 24 units of natural gas and 200 units of fuel oil in year 1 using year 1 as the base year?

Question

TABLE 16-1
Given below are the average prices for three types of energy products for five consecutive years. 
-Referring to Table 16-1, what is the Laspeyres price index for the group of three energy items in year 4 for a family that consumed 15 units of electricity, 24 units of natural gas and 200 units of fuel oil in year 1 using year 1 as the base year?

Quizplus · Accepted Answer

The Answer of TABLE 16-1
Given below are the average prices for three types of energy products for five consecutive years. 
-Referring to Table 16-1, what is the Laspeyres price index for the group of three energy items in year 4 for a family that consumed 15 units of electricity, 24 units of natural gas and 200 units of fuel oil in year 1 using year 1 as the base year?

TABLE 16-1 Given Below Are the Average Prices for Three Types of Types