The Price of a New Textbook Is $120 in One

question 425

Multiple Choice

The price of a new textbook is $120 in one year and is $150 two years later, while the price of a used copy of the text increased from $40 to $60. The relative price of a new textbook

• A) increased from 3 to 4.5.
• B) decreased from 0.8 to 0.67.
• C) decreased from 3 to 2.5.
• D) remained constant.

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External Marketing Factor

Influences originating outside a company that affect its marketing strategy and performance, such as economic conditions or social trends.

Consumer Protection Agency

A governmental organization dedicated to safeguarding the rights and interests of consumers, often by enforcing laws against unfair business practices.

Federal Trade Commission

A United States federal agency established to prevent unfair business practices and protect consumers from anticompetitive, deceptive, and unfair business practices.

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Pertaining to technology; involving, using, or relating to advancements or tools that apply scientific knowledge for practical purposes.