On Orca Island, people consume fish sandwiches and snow cones. Use the data in the table to calculate the inflation rate from 2013 to 2014, based on the Consumer Price Index (CPI). Take 2013 as your base year. Round your answer to two decimal places. Price in Quantity in Price in Quantity in 2013 2013 2014 2014 Fish sandwiches $6.00 700 $7.00 925 Snow cones $3.00 1400 $3.50 1200 inflation rate: %

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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On Orca Island, people consume fish sandwiches and snow cones. Use the data in the table to calculate the inflation rate from
2013 to 2014, based on the Consumer Price Index (CPI). Take 2013 as your base year.
Round your answer to two decimal places.
Price in
Quantity in
Price in
Quantity in
2013
2013
2014
2014
Fish
sandwiches
$6.00
700
$7.00
925
Snow cones
$3.00
1400
$3.50
1200
inflation rate:
%
Transcribed Image Text:On Orca Island, people consume fish sandwiches and snow cones. Use the data in the table to calculate the inflation rate from 2013 to 2014, based on the Consumer Price Index (CPI). Take 2013 as your base year. Round your answer to two decimal places. Price in Quantity in Price in Quantity in 2013 2013 2014 2014 Fish sandwiches $6.00 700 $7.00 925 Snow cones $3.00 1400 $3.50 1200 inflation rate: %
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