QUESTION 10The price of electricity is set in January. In March it rises by 28% to set a new price. The March price is then raised by another 77% in June. In September the June price is raised by 56%. Finally in December, the September price is reduced by 11%. If the January price is £100, what is the December price? A.£314.56 B.£388.77 C.£126.87 D.£225.56

Price of electricity in January is £100 Price in March is raised by 28% to set a new price. Price in…

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Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 5SCQ: How to Measure Changes in the Cost of Living introduced a number of different price indices. Which...

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QUESTION 10

The price of electricity is set in January. In March it rises by 28% to set a new price. The March price is then raised by another 77% in June. In September the June price is raised by 56%. Finally in December, the September price is reduced by 11%.

If the January price is £100, what is the December price?

A.

£314.56

B.

£388.77

C.

£126.87

D.

£225.56

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