Given the following information displays the average retail price of M and the Consumer Price Index in the Suitanate of Oman, from 2012 to 2018 scaled se that the CP 100 in 2012. 2012 2014 2016 2018 CP 100 1045 102.5 102.3 The retail price of Mk IOMR per lher 043 0.62 0.89 G55 What is the percentage change in the real price (2012 OMR) from 2012 to 20187 38.0%
Given the following information displays the average retail price of M and the Consumer Price Index in the Suitanate of Oman, from 2012 to 2018 scaled se that the CP 100 in 2012. 2012 2014 2016 2018 CP 100 1045 102.5 102.3 The retail price of Mk IOMR per lher 043 0.62 0.89 G55 What is the percentage change in the real price (2012 OMR) from 2012 to 20187 38.0%
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Given the following information displays the average retail price of Milk and the Consumer Price Index in the Sultanate of Oman, from 2012 to 2018
scaled so that the CPI 100 in 2012.
2012
2014
2016
2018
CPI
100
104.5
102.5
102.3
The retail price of Mik
(OMR per liher
0.43
0.02
0.69
0.55
What is the percentage change in the real price (2012 OMR) from 2012 to 20187
18.0%
25.0%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F51bede7c-120b-4d00-9a62-54a30e43be29%2F433faf47-68da-4085-88d4-caaa88bf6939%2Fzk0o09f_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Given the following information displays the average retail price of Milk and the Consumer Price Index in the Sultanate of Oman, from 2012 to 2018
scaled so that the CPI 100 in 2012.
2012
2014
2016
2018
CPI
100
104.5
102.5
102.3
The retail price of Mik
(OMR per liher
0.43
0.02
0.69
0.55
What is the percentage change in the real price (2012 OMR) from 2012 to 20187
18.0%
25.0%
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