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.
Correct Answer:
Verified
Q1: Q9: A fundamental principle in demand analysis is Q13: In economics, "demand" refers to Q14: The law of demand is based on Q16: Suppose that the price of cornflakes is Q18: According to the law of demand, other Q19: The law of demand states that Q20: The law of demand includes the statement Q22: Which of the following is an example Q36: When the term "price" is used in
A)the intensity of
A) consumers
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