A large manufacturer purchases an identical component from three independent suppliers that differ in unit price and quantity supplied. The relevant data for 2012 and 2014 are given here. Unit Price...

Extracted text: A large manufacturer purchases an identical component from three independent suppliers that differ in unit price and quantity supplied. The relevant data for 2012 and 2014 are given here. Unit Price ($) Supplier Quantity (2012) 2012 2014 A 100 4.95 5.50 B 200 5.60 5.95 120 5.50 6.20 (a) Compute the price relatives for each of the component suppliers separately. Compare the price increases by the suppliers over the two-year period. (b) Compute an unweighted aggregate price index for the component part in 2014. (c) Compute a 2014 weighted aggregate price index for the component part. What is the interpretation of this index for the manufacturing firm?