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The average of Laspeyre’s and Paasche’s ...

The average of Laspeyre’s and Paasche’s Price Index Numbers is called……………..Price Index Number.

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To solve the question regarding the average of Laspeyre’s and Paasche’s Price Index Numbers, we can follow these steps: ### Step-by-Step Solution: 1. **Understand the Price Index Numbers**: - Laspeyre’s Price Index Number (denoted as \( P_0^L \)) is calculated based on the base year quantities. - Paasche’s Price Index Number (denoted as \( P_0^P \)) is calculated based on the current year quantities. 2. **Calculate the Average**: - The average of Laspeyre’s and Paasche’s Price Index Numbers is calculated using the formula: \[ \text{Average Price Index} = \frac{P_0^L + P_0^P}{2} \] 3. **Identify the Type of Average**: - The average calculated above is known as the **Drobish-Bauli Price Index Number** (denoted as \( P_0^{DBK} \)). - Therefore, the average of Laspeyre’s and Paasche’s Price Index Numbers is referred to as the Drobish-Bauli Price Index Number. 4. **Final Answer**: - The fill-in-the-blank answer is **Drobish-Bauli**.
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