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?
A) It increased by 25 percent.
B) It increased by 10 percent.
C) It remained constant.
D) It can't be determined without knowing the nominal price of the used textbook in at least one of the years.
C
Economics
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