Using the data from question 57, compute the Paasche price index, again using 1985 as the base year.

Question 57

You are given the following information on prices and quantities for Knick-
Knacks.

Using 1985 as the base year, compute the value price index for Knick-Knacks.

Transcribed Image Text:

Year 1985 1986 1987 1988 1989 1990 Price $21.00 18.25 19.31 22.44 23.51 21.85 Quantity 12,300 13,000 21,300 20,212 24,345 32,300