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Satsume Satsume
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6 years ago
The price to attend a NBA basketball game in Chicago is $55 while the CPI in Chicago is 153.  The CPI in Charlotte is 108 while the price to attend a NBA basketball game is $52.  Which city offers a smaller real cost of attending a NBA basketball game?
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Microeconomics

Microeconomics


Edition: 8th
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#1
6 years ago
Chicago real value [NBA(Charlotte)] = 153(52)/108 = $73.67. The real value of a game in Charlotte exceeds the real value of a game in Chicago.  Chicago offers a smaller real cost of attending a game.
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