Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown in the following table. 
What is the Paasche price index?
Definitions:
Book Value
Book value is the net value of a company's assets as recorded on its financial statements, minus any liabilities.
Fair Value
An estimated market value of an asset or liability, based on the current market price or valuations under similar circumstances.
Purchased Patent
An asset representing the right to exclusively use, make, sell, or distribute an invention or discovery, acquired through purchase rather than original creation.
Legal Life
The duration for which an asset is legally permitted to be used or the period a legal agreement is effective.
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