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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
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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Modern Principles of Economics
Authors: Tyler Cowen, Alex Tabarrok
3rd edition
1429278390, 978-1429278416, 1429278412, 978-1429278393
