Consider the Following Price (In Dollars) and Quantity Data for Two

question 96

Short Answer

Consider the following price (in dollars) and quantity data for two items during 2010 and 2011. If the value of the Laspeyres price index for 2011, using 2010 as the base year, is 89.46, find the price of item 1 in 2011.

---

Definitions:

Personal Sacrifices

Acts of giving up personal interests, time, or resources for the benefit or welfare of others.

Meta-Categories

Broad, overarching classifications that organize concepts, items, or ideas based on shared characteristics or themes.

Task-Oriented

A focus on completing duties and assignments efficiently and effectively, often prioritizing the work to be done over interpersonal relationships.

Relations-Oriented

Describes a focus on building and maintaining positive relationships within a team or organization.