Kathie buys a bottle of fruit juice for $2.50 and a few loaves of bread for $1.20 each.
1 answer:
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Answer:
the price of good x in 1999 dollars is 370.89 dollars
Step-by-step explanation:
Given that good x sold for $40 in 1945. the Cpi in 1945 was 18.0 and the cpi in 1999 was 166.6.
We have cpi and sale price have direct variation
In other words S = kC where C = CPi and S = sales price
In 1945, 40 = 18k or K = 20/9
Using this we can say
Sales price in 1999 would be k (166.6)
=
the price of good x in 1999 dollars is 370.89 dollars