The price of a new textbook is $120 in one year and is $150 two years later, while the price of a used copy of the text increased from $40 to $60. The relative price of a new textbook
A) increased from 3 to 4.5.
B) decreased from 0.8 to 0.67.
C) decreased from 3 to 2.5.
D) remained constant.

Question

Quizplus · Accepted Answer

The relative price of a new textbook compared to a used one initially is $120/$40 = 3. Two years later, it is $150/$60 = 2.5. This shows a decrease from 3 to 2.5.

The Price of a New Textbook Is $120 in One