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    Lapeyres price index and the Paasche price index.

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    For the following data, calculate the Lapeyres price index and the Paasche price index for the year 1997, taking 1993 as the base year.

    Item
    1993
    1997

    price
    quantity
    price
    quantity

    1 lb. of bananas
    $0.39
    150
    $0.49
    200

    1 loaf of bread
    $0.99
    52
    $1.29
    52

    1 gal. of 2% milk
    $1.29
    104
    $1.69
    52

    1 dozen eggs
    $0.69
    30
    $0.89
    24

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    For the following data, calculate the Lapeyres price index and the Paasche price index for the year 1997, taking 1993 as the base year.
    Item 1993 ...

    Solution Summary

    For the following data, calculate the Lapeyres price index and the Paasche price index for the year 1997, taking 1993 as the base year.

    $2.49

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