The average annual cost of living in Illinois, California, and Oregon are displayed in the table below. Cost of Living per state State Average Annual Cost of Living Illinois $58,000 California $70,000 Oregon $64,000 Suppose you were offered three jobs: a $72,000 annual salary in Illinois a $96,000 annual salary in California an $80,000 annual salary in Oregon. Based on purchasing power, which job would you select? Please show your work and explain your reasoning.

The average annual cost of living in Illinois, California, and Oregon are displayed in the table below. Cost of Living per state State Average Annual Cost of Living Illinois $58,000 California $70,000 Oregon $64,000 Suppose you were offered three jobs: a $72,000 annual salary in Illinois a $96,000 annual salary in California an $80,000 annual salary in Oregon. Based on purchasing power, which job would you select? Please show your work and explain your reasoning.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter16: Interest, Rent, And Profit

Section: Chapter Questions

Problem 2WNG

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State	Average Annual Cost of Living
Illinois	$58,000
California	$70,000
Oregon	$64,000

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