Multiple Choice
If you expect a general price increase of 5% this year and the price of the hamburgers you sell increases by 10%,you would conclude that the relative price of your good has
A) declined, and you would increase your output.
B) declined, and you would decrease your output.
C) increased, and you would increase your output.
D) increased, and you would decrease your output.
Correct Answer:

Verified
Correct Answer:
Verified
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