Suppose that the price of Oranges in 1956 is $1.6 and in 2003 it is $1.3. In

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Suppose that the price of Oranges in 1956 is $1.6 and in 2003 it is $1.3. In addition, you also know that the CPI in 1956 is 150 and in 2003 it is 190.

Given this information, what is the change in the real value of Oranges between 1956 and 2003.

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Intermediate Microeconomics

ISBN: 978-0393123968

9th edition

Authors: Hal R. Varian

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Posted Date: Jan 19, 2024 02:01 AM

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Suppose that the price of Oranges in 1956 is $1.6 and in 2003 it is $1.3. In

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Intermediate Microeconomics

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