Business, 18.04.2020 00:56 Silvanade

Twenty years ago a stove cost $300 and a refrigerator cost $1,500. Today a stove costs $600, while a refrigerator costs $1,800. Which of the following statements is true?
a. The relative price of a stove has increased.
b. The relative price of a refrigerator has increased.
c. The relative price of stoves and refrigerators has not changed.
d. The money price of a refrigerator has fallen.

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