Suppose That the Price of Good X Increases from $3

question 38

Multiple Choice

Suppose that the price of good X increases from $3.00 to $4.00 while the price of good Y increases from $150 to $200.The relative price of X (in terms of Y)

• A)remained constant.
• B)has risen.
• C)cannot be determined from the above data.
• D)has fallen.
• E)is completely unrelated to the price of good Y.

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