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Consider the Following Price (In Dollars) and Quantity Data for Two

Question 118

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Consider the following price (in dollars) and quantity data for two items during 2010 and 2011. Consider the following price (in dollars) and quantity data for two items during 2010 and 2011. If the value of the Paasche price index for 2011 is 90.61 (base year 2010), find the price of item 2 in 2010. If the value of the Paasche price index for 2011 is 90.61 (base year 2010), find the price of item 2 in 2010.

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