Use the following price information for selected foods for 2000 and 2013 given in the following table in the image. a. Compute a simple price index for each of the four items. Use 2000 as the base period. b. Compute a simple aggregate price index. Use 2000 as the base period. c.Compute Laspeyres’ price index for 2013 using 2000 as the base period.

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Use the following price information for selected foods for 2000 and 2013 given in the following table in the image.

a. Compute a simple price index for each of the four items. Use 2000 as the base period.

b. Compute a simple aggregate price index. Use 2000 as the base period.

c.Compute Laspeyres’ price index for 2013 using 2000 as the base period.

Price
Quantity
2013
Item
2000
2013
2000
Cabbage
(pound)
Carrots (bunch)
Peas (quart)
Endive (bunch)
S0.06
$0.05
2,000
1,500
0.10
0.12
200
200
0.20
0.18
400
500
0.15
0.15
100
200
Transcribed Image Text:Price Quantity 2013 Item 2000 2013 2000 Cabbage (pound) Carrots (bunch) Peas (quart) Endive (bunch) S0.06 $0.05 2,000 1,500 0.10 0.12 200 200 0.20 0.18 400 500 0.15 0.15 100 200
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