Multiple Choice
The price of a new textbook is $60 in one year and $75 two years later, while the price of a used copy of the textbook increased from $25 to $37.50. The relative price of a new textbook
A) increased by 25 percent.
B) increased from 2.4 to 3.
C) decreased from 2.4 to 2.0.
D) decreased from 1.4 to 1.25.
Correct Answer:

Verified
Correct Answer:
Verified
Q140: When there is a shortage I. there
Q141: The demand curve is downward sloping because<br>A)
Q142: A change in the price of a
Q143: Sarah gets a salary increase. Before her
Q144: The relationship between quantity supplied and price
Q146: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Suppose that, at
Q147: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q148: According to the law of demand, other
Q149: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -According to the
Q150: A supply schedule<br>A) can be used to