TABLE 16-16 Given Below Are the Prices of a Basket of Four

Short Answer

TABLE 16-16
Given below are the prices of a basket of four food items from 2008 to 2012.
-Referring to Table 16-16,what is the Paasche price index for the basket of four food items in 2012 that consisted of 40 bushels of wheat,50 bushels of corn,35 bushels of soybeans and 60 hundredweight of milk in 2012 using 2008 as the base year?