Multiple Choice
The price of a new textbook increased from $100 to $120 in one year, while the price of a used textbook increased by 20 percent. What happened to the relative price of a used textbook?
A) It decreased by 25 percent.
B) It increased by 20 percent.
C) It remained constant.
D) It can't be determined without knowing the nominal price of the used textbook in at least one of the years.
Correct Answer:
Verified
Correct Answer:
Verified
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