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

question 297

Short Answer

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 5 for a family that consumed 15 units of electricity, 24 units of natural gas and 200 units of fuel oil in year 1 using hear 1 as the base year?

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