The average annual cost of living in Illinois, California, and Oregon are displayed in the table below. Cost of Living per state State Average Annual Cost of Living Illinois $58,000 California $70,000 Oregon $64,000 Suppose you were offered three jobs: a $72,000 annual salary in Illinois a $96,000 annual salary in California an $80,000 annual salary in Oregon. Based on purchasing power, which job would you select? Please show your work and explain your reasoning.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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The average annual cost of living in Illinois, California, and Oregon are displayed in the table below.

Cost of Living per state

State Average Annual Cost of Living
Illinois $58,000
California $70,000
Oregon $64,000

Suppose you were offered three jobs:

  • a $72,000 annual salary in Illinois
  • a $96,000 annual salary in California
  • an $80,000 annual salary in Oregon.

Based on purchasing power, which job would you select? Please show your work and explain your reasoning.

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