Multiple Choice
The price of a new car is $40,000 while the price of a five-year old car of the same brand is $16,000. The next year the price of the new car increases to $44,000 and the price of a five-year old car of the same brand is $17,600. The relative price of the used car
A) decreased by $2,400.
B) decreased by 10 percent.
C) increased by 10 percent.
D) remained constant at 0.4.
Correct Answer:
Verified
Correct Answer:
Verified
Q406: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q407: If consumers expect that the price of
Q408: Which of the following will NOT affect
Q409: The effects of a per-unit tax imposed
Q410: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q412: Refer to the above figure. The highest
Q413: Explain why there is a direct relationship
Q414: A given supply curve illustrates<br>A) the relationship
Q415: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q416: John increases his consumption of Good X