Suppose the price of a tub of margarine rises from $3 to $3.75 and the price of a notebook rises from $1.25 to $1.75.If the CPI rises from 140 to 182,then people likely will buy

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The CPI (Consumer Price Index) measures the average change in prices of goods and services purchased by households. A higher CPI indicates that prices have increased. In this case, the CPI has increased from 140 to 182, which means that prices have increased by 29.29%. The price of margarine has increased by 25%, and the price of notebooks has increased by 40%. Therefore, people are likely to buy more margarine and fewer notebooks.

Suppose the Price of a Tub of Margarine Rises from $3