Multiple Choice
Suppose 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 fallen.
B) has risen.
C) remained constant.
D) cannot be determined from the above data.
E) is completely unrelated to the price of good Y.
Correct Answer:
Verified
Correct Answer:
Verified
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