The price of a smartphone increased from $350 to $400 while the price of a smartphone app increased from $1 to $2. The relative price of smartphones in terms of smartphone apps
A) increased from 200 to 350.
B) decreased from 350 to 200.
C) increased from 0.003 to 0.05.
D) decreased from 0.35 to 0.2.
B
Economics
You might also like to view...
Price changes for complements and substitutes have the same effect on demand.
a. true b. false
Economics
The position of the supply curve in the market for garbage removal
a. is irrelevant since the cost is fixed. b. depends on the marginal cost of garbage removal. c. depends on the demand for garbage removal services. d. is unaffected by taxes levied per household amount of garbage.
Economics