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Question

Using 2011 as the base year, the 2010 value of the Laspeyres Price Index is ______.
Year 2010 2011 2012

Price Quantity Price Quantity Price Quantity
Wheat ('s/bushel) 370 100 372 110 255 120
Sugar ('s/pound) 13 50 12 40 12 30
Lard ('s/pound) 14 70 13 60 13 40

a) 69.92
b) 144.06
c) 100.21
d) 79.72
e) 99.72

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