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b) Apparent consumption and average fruit prices in Brisbane in 2010 and 2016 are summarized in the following table. Find Laspayres Index for 2016, using
b) Apparent consumption and average fruit prices in Brisbane in 2010 and 2016 are summarized in the following table.
Find Laspayres Index for 2016, using 2010 as a base category. By what percentage does the Index increase?
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Fruits | Price Kg ($) | Per capita annual consumption (Kg) | ||
2010 | 2016 | 2010 | 2016 | |
Apple | 6.5 | 7.89 | 33 | 45 |
Orange | 5.4 | 4.9 | 10.8 | 25 |
Pear | 4.2 | 5.4 | 30.8 | 35 |
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