When Disney's Magic Kingdom in Orlando, Florida, opened in 1971, the price of admission was $3.50 per day. In 2020, the ticket price was $109 per day.

Instructions: In parts a and c, enter your responses as a percentagerounded to the nearestwhole number. In part b, round your response to two decimal places.

a. By how much did the nominal price of a Disney ticket increase from 1971 to 2020?

%

b. The CPI index was 40.5 in 1971 and 261 in 2020. What was the 1971 price in 2020 dollars?

$ %

c. By how much did the real price of a ticket increase from 1971 to 2020?

%