TABLE 16-16 Given Below Are the Prices of a Basket of Four

question 6

Short Answer

TABLE 16-16
Given below are the prices of a basket of four food items from 2008 to 2012.
-Referring to Table 16-16,what is the Paasche price index for the basket of four food items in 2011 that consisted of 60 bushels of wheat,40 bushels of corn,35 bushels of soybeans and 70 hundredweight of milk in 2011 using 2008 as the base year?

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