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A movie star was paid $1 million in 1960 to do a movie. The CPI was 29.3 in 1960

A movie star was paid $1 million in 1960 to do a movie. The CPI was 29.3 in 1960 and the CPI in 2014 was 240. Approximately how much did the movie star earn in 2014 dollars
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selenaK9514
selenaK9514
4,5(89 marks)

$8.19 million

Explanation:

A movie star was paid $1 million in 1960 to do a movie

The CPI was 29.3 in 1960

The CPI in 2014 was 240

Therefore the amount that was earned in dollars by the movie star in 2014 can be calculated as follows

= 240/29.3

= 8.19 Γ— $1 million

= $8.19 million

Hence the movie star earned $8.19 million in 2014

babytony1210
babytony1210
4,9(68 marks)

Option a (None of the options are correct) is the right alternative.

Explanation:

A manner of opportunities and management when two or even more businesses have quite a share of the economy would be characterized as an oligopoly. Those who can determine production and prices throughout the combination.Every opportunity to make simplification generalizations underlines one facet of that same oligopoly situation.

Thus the above option is the correct one.

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