Suppose the price of a pound of quinoa in 1960 was $2, and in 2010, was $6.The CPI in 1960 was 100, and the CPI in 2010 was 320.What is the price of quinoa in 2010 measured in 1960 price level? Question 15Answer a. $1.875 b. $3.275 c. $4.5 d. $2.86

Suppose the price of a pound of quinoa in 1960 was $2, and in 2010, was $6.The CPI in 1960 was 100, and the CPI in 2010 was 320.What is the price of quinoa in 2010 measured in 1960 price level? Question 15Answer a. $1.875 b. $3.275 c. $4.5 d. $2.86

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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