Three firms, X, Y, and Z, operate in the same industry, although their products have different features and are priced differently. The following table provides the prices and the quantities sold (in units) during the period 2000-2002. Which of the following is the Laspeyres price index for 2002, using 2000 as the base year?
A) 106.07
B) 106.3
C) 94.28
D) 94.08

Question

Three firms, X, Y, and Z, operate in the same industry, although their products have different features and are priced differently. The following table provides the prices and the quantities sold (in units) during the period 2000-2002.  Which of the following is the Laspeyres price index for 2002, using 2000 as the base year?
A) 106.07 
B) 106.3 
C) 94.28 
D) 94.08

Quizplus · Accepted Answer

The Answer of Three firms, X, Y, and Z, operate in the same industry, although their products have different features and are priced differently. The following table provides the prices and the quantities sold (in units) during the period 2000-2002.  Which of the following is the Laspeyres price index for 2002, using 2000 as the base year?
A) 106.07 
B) 106.3 
C) 94.28 
D) 94.08

Three Firms, X, Y, and Z, Operate in the Same