multiple choice question\nsuppose the price of airfare rises by 4% while the prices of other goods and…

multiple choice question\nsuppose the price of airfare rises by 4% while the prices of other goods and services rises, on average, by 5%. we can conclude that \n\no the relative price of airfare increased\n\no the relative price of airfare is likely unrelated to other price changes.\n\no the relative price of airfare decreased

multiple choice question\nsuppose the price of airfare rises by 4% while the prices of other goods and services rises, on average, by 5%. we can conclude that \n\no the relative price of airfare increased\n\no the relative price of airfare is likely unrelated to other price changes.\n\no the relative price of airfare decreased

Answer

Brief Explanations:

Relative price is the price of a good or service in relation to other goods and services. If the price of airfare rises by 4% and the average price of other goods and services rises by 5%, airfare has become relatively cheaper as its price has increased at a lower rate compared to the average of other goods and services.

Answer:

the relative price of airfare decreased