The following are the prices of commodities in 2004 and 2017. Construct a price index based on price
index based on price relatives taking 2004 as base year.
Commodity A
B
C
D
E
Price in 2004
50
40
80
110
20
Price in 2017
70
60
90
120
20
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Answer:
Price in 2004 is 110
Price in 2017 is 120
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