In 2016, SONY released its newest version of the PlayStation, the PlayStation 4 Pro. The retail price was $399.99. Many consumer
s felt that this gaming console was overpriced. They pointed to the original PlayStation that was released in 1995 with a list price of $300. Using the fact that the CPI was 152.4 in 1995 and 240.0 in 2016, adjust the price of the original PlayStation to 2016 dollars. Which gaming console would you conclude was more expensive? Adjusted price: ?
