https://file.aiquickdraw.com/mathbot/file/1726459970715397m8j40.jpg

To find the price of the macaroni and cheese in 2011 dollars using the Consumer Price Index (CPI), we can use the following formula:

\[
\text{Price in 2011} = \text{Price in 1984} \times \frac{\text{CPI in 2011}}{\text{CPI in 1984}}
\]

From the image:
- **Price in 1984** = $0.24
- **CPI in 1984** = 103.9
- **CPI in 2011** = 224.9

Substitute these values into the formula:

\[
\text{Price in 2011} = 0.24 \times \frac{224.9}{103.9}
\]

Let's calculate this step-by-step.

\[
\frac{224.9}{103.9} \approx 2.164
\]

\[
0.24 \times 2.164 \approx 0.519
\]

So, the price in 2011, rounded to the nearest cent, would be approximately **$0.52**.

Would you like more details or have any questions?

Here are some related questions you might find interesting:
1. How would the price change if the CPI had increased at a different rate?
2. How does CPI account for inflation?
3. What is the significance of CPI in economic analysis?
4. How would you convert prices using CPI for other years?
5. What other factors besides CPI might affect the price of goods over time?

**Tip:** When adjusting for inflation, using the CPI provides a standard way to compare prices across different years.

Suppose a particular box of macaroni and cheese cost $0.24 in 1984. What was its price in 2011 dollars? Assume that all prices have risen at the same rate as the CPI.

Learn how to adjust the price of a product using the Consumer Price Index (CPI). This problem involves calculating the price of macaroni and cheese in 2011 dollars based on a 1984 price of $0.24, assuming inflation follows the CPI. Suitable for Grades 10-12.

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