An arena in Winnipeg cost $ 4.7 million in 2005. Estimate the cost of building a similar arena in Vancouver. Construction costs in Vancouver are believed to be 31% higher than Winnipeg. The all-items Consumer Price Index (CPI) for 2005 in Canada was 107, while the latest available CPI is 137.3.
An arena in Winnipeg cost $ 4.7 million in 2005. Estimate the cost of building a similar arena in Vancouver. Construction costs in Vancouver are believed to be 31% higher than Winnipeg. The all-items Consumer Price Index (CPI) for 2005 in Canada was 107, while the latest available CPI is 137.3.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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An arena in Winnipeg cost $ 4.7 million in 2005. Estimate the cost of building a similar arena in Vancouver. Construction costs in
Vancouver are believed to be 31% higher than Winnipeg. The all-items
while the latest available CPI is 137.3.
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