The average cost of a gallon of gas was $0.80 per gallon in 1995. In 2011, theaverage cost of a gallon of gas is $3.50. What is the average inflation rate for the period 1998-2011?
The average cost of a gallon of gas was $0.80 per gallon in 1995. In 2011, theaverage cost of a gallon of gas is $3.50. What is the average inflation rate for the period 1998-2011?
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter2: The One Lesson Of Business
Section: Chapter Questions
Problem 2.6IP
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The average cost of a gallon of gas was $0.80 per gallon in 1995. In 2011, the
average cost of a gallon of gas is $3.50. What is the average inflation rate for the period 1998-2011?
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