Solved

Suppose That the Price of Good X Increases from $3

Question 89

Multiple Choice

Suppose that the price of good X increases from $3.00 to $4.00 while the price of good Y increases from $150 to $200. The relative price of X (in terms of Y)


A) has risen.
B) remained constant.
C) has fallen.
D) cannot be determined from the above data.
E) is completely unrelated to the price of good Y.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents