The average price of tuition and fees at public 4-year colleges and universities increased from $1,780 in 1989 to $7,100in 2010. Calculate the relative change in price from 1989 to 2010 and compare it to the overall rate of inflation asmeasured by the Consumer Price Index.Average Annual Consumer Phc6 Ihdex (CPI)CPI124.0130.7136.2140.3CPI56.9YearCPI177.1179.9184.0188.9195.3201.6207.3215.3214.5YearYear2001200220031976198919901991199219931994199519961997197760.6Average tuition and fees in public 4-year colleges and universities increased by %.(Round to the nearest integer as needed.)1978197919801981198219831984198519861987198865.272.682.490.996.599.6103.9107.6109.6113.6118.32004144.52005200620072008148.2152.4156.9160.5163.0166.6172.22009201020111998218.119992000224.9229.62012

According to the question, that average change in tuition and fee became $7100 in 2010 from $1780 in…

The average price of tuition and fees at public 4-year colleges and universities increased from $1,780 in 2010. Calculate the relative change in price from 1989 to 2010 and compare it to the overall rate of inflation as measured by the Consumer Price Index. 1989 to S7, Average tuition and fees in public 4-year colleges and universities increased by (Round to the nearest integer as needed.)

The average price of tuition and fees at public 4-year colleges and universities increased from $1,780 in 2010. Calculate the relative change in price from 1989 to 2010 and compare it to the overall rate of inflation as measured by the Consumer Price Index. 1989 to S7, Average tuition and fees in public 4-year colleges and universities increased by (Round to the nearest integer as needed.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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