The price of a new textbook increased from $100 to $120 in one year, while the price of a used textbook increased by 10 percent. What happened to the relative price of a used textbook?
A. It remained constant.
B. It increased by 10 percent.
C. It decreased by 20 percent.
D. It can't be determined without knowing the nominal price of the used textbook in at least one of the years.
Answer: D
Economics
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