Construct the chain indices from the following price relatives of four commodities using geometric mean as an average. Price Relatives of Commodities Year A B C D 1951 14.6 21.6 250.0 119.0 1952 12.7 13.8 159.0 128.0 1953 12.1 15.0 130.0 111.0 1954 121.6 241.6 216.0 165.0

Construct the chain indices from the following price relatives of four commodities using geometric mean as an average. Price Relatives of Commodities Year A B C D 1951 14.6 21.6 250.0 119.0 1952 12.7 13.8 159.0 128.0 1953 12.1 15.0 130.0 111.0 1954 121.6 241.6 216.0 165.0

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter1: Introducing The Economic Way Of Thinking

Section1.A: Applying Graphs To Economics

Problem 7SQ

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Question

Construct the chain indices from the following price relatives of four commodities using geometric mean as an average.

	Price Relatives of Commodities
Year	A	B	C	D
1951	14.6	21.6	250.0	119.0
1952	12.7	13.8	159.0	128.0
1953	12.1	15.0	130.0	111.0
1954	121.6	241.6	216.0	165.0

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