23. A management consulting firm consists of three partners, whose number of cli

Question

23.          A management consulting firm consists of three partners, whose number of clients and average fee per client were as shown below for 1988 through 1990:

Number of                                                                            Average Billing

Clients Served                                                                      per Client                              

a.             Using 1988 as the base period, what is the simple aggregate price index for clients served in 1989? In 1990?

b.             Using 1988 as the base period, what is the simple aggregate quantity index for the number of clients served in 1989? In 1990?

a b c a b c 1988 8 10 3 $2,500 $15,000 65,000 1989 10 8 4 $1,500 $20,000 $50,000 1990 15 12 2 $3,000 10,000 $80,000

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23. A management consulting firm consists of three partners, whose number of cli

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