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

question 318

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 Paasche price index for the group of three energy items in 2004 for a family that consumed 13 units of electricity, 26 units of natural gas and 235 units of fuel oil in year 3 using year 1 as the base year?

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Definitions:

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