SCENARIO 16-15 Given Below Are the Average Prices for Three Types of Types

question 224

Short Answer

SCENARIO 16-15
Given below are the average prices for three types of energy products for five consecutive years.

-Referring to Scenario 16-15,what is the Laspeyres price index for the group of three energy items in year 3 for a family that consumed 15 units of electricity,24 units of natural gas and 200 units of fuel oil in year 1 using year 1 as the base year?

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