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1. Drake is a Canadian musician who likes luxurious cars. If the price of a Lamborghini is $800,000 and the price of a BMW IS
1. Drake is a Canadian musician who likes luxurious cars. If the price of a Lamborghini is $800,000 and the price of a BMW IS $200, 000: a. Find the relative price of Lamborghini? (5 marks) b. Find the relative price of the BMW? (5 marks) 2. Why does demand not change when the price of a good changes with no change in other influences on buying plans? (10 marks)
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