When the price of only one good rises, the relative price of that good
A) falls.
B) rises.
C) does not change.
D) rises if it is a normal good and falls if it is an inferior good.
B
Economics
You might also like to view...
Assuming all else equal, if there is an increase in the real interest rate:
A) there will be an upward movement along the credit demand curve. B) there will be a downward movement along the credit demand curve. C) the credit demand curve shifts to the right. D) the credit demand curve shifts to the left.
Economics
In pure competition, price is determined where the industry:
A. Demand and supply curves intersect B. Total cost is greater than total revenue C. Demand intersects the individual firm's marginal cost curve D. Average total cost equals total variable cost
Economics