The following table provides the price and quantity data for three brands of a particular good during 2010 and 2011. 
a.Use 2010 as the base year and compute the weighted aggregate price index for 2011 using the Laspeyres method.
B)Interpret the result.
Definitions:
Perfectly Competitive
A market structure characterized by a large number of small firms, identical products, and free entry and exit, leading to price-taking behavior.
Horizontal
Refers to something that is parallel to the horizon, often used in contrast with vertical; in economics, it may pertain to mergers between companies at the same stage of production.
Economic Profits
Refers to the financial gains that exceed the total costs, including both explicit and implicit costs, of a business.
Enter Industry
The act of starting or initiating business operations in a particular market sector.
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