Answered: The value of the CPI increases from 151…

The value of the CPI increases from 151 in year 1 to 179 in year 2. This means that a good costing $249 in year 1 would on average cost how much in year 2? Round your answer to two decimal places.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The value of the CPI increases from 151 in year 1 to 179 in year 2. This means that a good
costing $249 in year 1 would on average cost how much in year 2? Round your answer to
two decimal places.
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