Question
The costs of living in 3 (fictitious) cities are given in the table below. Answer the following questions based on this information. City Cost of
The costs of living in 3 (fictitious) cities are given in the table below. Answer the following questions based on this information. City Cost of living City A $56,000 City B $71,250 City C $66,500 a. In which city would you need the largest salary to maintain the same cost of living as in the other places? Explain your reasoning.b. If you earn $75,000 in City B, which is the best estimate for how much you would need to earn in City C to maintain the same standard of living as you have in City B? Try to answer without fully calculating the salary needed in City C. Explain your reasoning. $63,000 $69,000 $72,000 c. If you earn $84,000 in City A, how much would you need to earn in City B and how much would you need to earn in City C to have a salary equivalent to your $84,000 in City A? Show your work. Explain how you know your answers are reasonable
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