Question: Question 2 (Based on Chapter 20) The following table reports prices and usage quantities for two items in 2016 and 2018 Unit Price ($) Quantity

Question 2 (Based on Chapter 20) The following table reports prices and usage quantities for two items in 2016 and 2018 Unit Price ($) Quantity Item 2016 2018 2016 2018 A 1500 1800 7.50 7.75 B 2 630.00 1500.00 Compute price relatives for each item in 2018 using 2016 as the base period. b. Compute an unweighted aggregate price index for the two items in 2018 using 2016 as the based period. Compute a weighted aggregate price index for the two items using the Laspeyres method. 1

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