Can the absolute price of a good rise at the same time as its relative price declines?

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Can the absolute price of a good rise at the same time as its relative price declines? Explain your answer.

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Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

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Question Posted: Feb 12, 2016 07:06 AM

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Can the absolute price of a good rise at the same time as its relative price declines?

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Yes Let the price of good X be 40 and that of good Y be 10 The relativ...View the full answer

Economics

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