Question

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Answer 1

The solution is given below:

What is price index?

An index number expressing the level of a group of commodity prices relative to the level of the prices of the same commodities during an arbitrarily chosen base period and used to indicate changes in the level of prices from one period to another.

Given:

Comm.         p0        q0       p1       q1       p0q0    p1q0       p1q1        p0q1

     A           25      750       30    960    18750      750       28800     24000

    B             30      450       25    550    13500     750       13750      16500

    C             5        250        6     360      1250     30        2160          1800

    D              6        90         7       210      540       42        1470           1260

    E               10        140       10     190     1400      100       1900          1900

     F                 4         48       5     65      192          240        365         260

Now,

$\sum$p0q0 = 35632

$\sum$p1q0 = 1912

$\sum$p1q1 = 48445

$\sum$p0q1= 45720

1) P01(L) = $\sum$p1q0/$\sum$p0q0 * 100

             = 5.36

2) P01(L) = $\sum$p1q1/$\sum$p0q1 * 100

            = 105.96

Dorbish- Bowley

= 5.36+ 105.96/2

=55.66

Marshall- Edgeworth

=  1912+  48445/35632 + 45720

= 50357/ 81352

= 0.619 *100= 61.9

Fisher's price index

=( 5.36 * 105.96 )^ 0.5

=23.831

Learn more about price index here:

brainly.com/question/14184515

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