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ECO402 - Microeconomics Assignment No. 1 Solution Fall 2016 Due Date: Nov 23, 2016

ECO402 - Microeconomics Assignment No. 1 Solution Fall 2016 Due Date: Nov 23, 2016

 SEMESTER FALL 2016

MICROECONOMICS (ECO402)

ASSIGNMENT # 01

 

 

DUE DATE: 23TH NOVEMBER, 2016

MARKS: 15

The Case: 

Role of Statistics is very important in planning, policymaking and research in the  modern  world.  Consumer Price Index  (CPI) is  recognized  as a

common indicator of general inflation.     In Pakistan, current CPI series cover

40 urban  centers of Pakistan.    The  current CPI covers 487  items  in the

basket of goods and services which represent taste, habits and customs of the people. Suppose we have only three items such as wheat, potato and petrol. Information about their nominal prices and consumer price index (CPI) from year 2012 to year 2014 is giver below:

 

 

 

 

 

 

 

 

 

 

 

 

Year

Nominal Price of wheat/10 kg

CPI

2012

275.00

169.62

2013

356.50

212.47

2014

335.50

210.63

Year

Nominal Price of Potato/kg

CPI

2012

35.63

204.38

2013

52.16

295.14

2014

69.00

466.16

Year

Nominal Price of Petrol/liter

CPI

2012

103.42

193.27

2013

113.70

195.25

2014

104.10

187.14

Requirements:

Keeping in mind the above scenario, solve the following questions.

  1. a.             By assuming 2012 as base year, find real price of wheat, potato and petrol in each year.
  2. b.              If base year bundle have 10 kg wheat, 1 kg potato and 1 liter petrol than find Laspeyres index by assuming 2012 as base year and 2014

as current year. 

 

 

 

Marks: (09+6)

 

 

 

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Please Discuss here about this assignment.Thanks

Our main purpose here discussion not just Solution

We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions.

Q1 Solution. from my side i am sure thats correct. please discuss if u find any error.

Attachments:

absolutely perfect

Lespeyers method?

Ans of question A is correct...Where is the answer of Lespeyers method?

Did any body solve Lespeyers Method part plz disscussed

Did any body solve Lespeyers Method part plz disscussed

Any body tell that value of Lespyer index is correct or not

Attachments:

how you solved lespeyer index...please give me some idea?

hi, would you please share the formula to calculate "Laspeyres Index" ? as i got stuck into it.

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