Final answer:
To find the price of a movie ticket in 1998 dollars, we would need to use historical inflation rates from 1998 to 2012 and apply them in a calculation involving the 2012 price. The specific calculation requires the cumulative inflation rate for that period, which then adjusts the 2012 dollar value to its 1998 equivalent.
Step-by-step explanation:
To determine the price of a movie ticket in 1998 dollars, we need to consider the rate of inflation between 1998 and 2012. Inflation causes the value of money to decrease over time, meaning it takes more money to buy the same goods and services in the future compared to the past. The US Inflation Calculator, which can be accessed online, provides historical inflation rates which can be used to calculate the price of a movie ticket in 1998 dollars.
Following the inflation rate data for the years 1998 to 2012, we can use a formula to adjust the 2012 price back to 1998 dollars. Unfortunately, without the specific inflation rates for those years given in your resources, we can't provide the exact value. However, the methodology would involve looking up the cumulative inflation rate from 1998 to 2012 and then dividing the 2012 price by (1 + cumulative inflation rate) to get the 1998 price.