According to a Wall Street Journal report, the price of a carton of eggs in Venezuela increased from 6,740 bolivars (the official Venezuelan currency) in January 2017 to 247,500 bolivars in December 2017.

a) What was the annual price growth rate for eggs in Venezuela during 2017?

b) At the time, IMF expects that the inflation rate in Venezuela will hit 13,000% in 2018. If the egg price change will match the expected inflation rate, what do you expect a carton of eggs will cost in December 2018?

c) Assume a Venezuelan family made 269,600 bolivars in January 2017. How much does the family need to make in December 2018 to maintain their purchasing power of eggs?