Question
The nominal price of apples is p A = $1.20/lb, the nominal price of coffee is $2.10/cup, and Peter makes $215/week income. Calculate the relative
The nominal price of apples is pA = $1.20/lb, the nominal price of coffee is $2.10/cup, and Peter makes $215/week income. Calculate the relative price of a cup coffee and Peter's real income. Make sure you show the correct units for this price and income
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
