Multiple Choice
There are two goods in the economy, apples and bread. The relative price of apples has increased. This could be due to
A) an increase in the absolute price of apples, ceteris paribus .
B) a simultaneous decrease in the absolute price of apples and an increase in the absolute price of bread, ceteris paribus .
C) a decrease in the absolute price of apples, ceteris paribus .
D) an increase in the absolute price of bread, ceteris paribus .
Correct Answer:
Verified
Correct Answer:
Verified
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