From the following data calculate price index numbers for the year 1980 with 1970 as the base year by using (i) Laspeyre’s method (ii) Paashe’s method (iii) Marshall Edgeworth method (iv) Fisher’s method.

Question: From the following data calculate price index numbers for the year 1980 with 1970 as the base year by using (i) Laspeyre’s method (ii) Paashe’s method (iii) Marshall Edgeworth method (iv) Fisher’s method.

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Solution:

Construction of Price Index Numbers

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