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The Price of a New Textbook Increased from $60 to $75

question 197

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The price of a new textbook increased from $60 to $75 in one year, while the price of a used textbook increased by 25 percent. What happened to the relative price of a used textbook?


Definitions:

Stranger Anxiety

An infant’s fear of and wariness toward strangers; it tends to appear in the second half of the first year of life.

Unsmiling

Displaying a serious or stern expression, without smiles.

Cheerful

Exhibiting a disposition that is full of joy and optimism.

Reflexive Smiling

An involuntary smile, often occurring in infants, that does not necessarily express happiness or response to social interactions.

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