Last year, the price of hamburger was $5 per pound and the price of trout was $6 per pound. this year, the price of hamburger is $8 per pound and the price of trout is $9 per pound.   all other things equal, and assuming that phillip purchased both items before, what would you expect to happen to his purchases of hamburger (relative to trout) this year?

The relative Price of Hamburger has decreased, so Phillip would be expected to purchase more.

Explanation:

Given that,

Price of Hamburger(H):

Last year = $5 per pound

This year = $8 per pound

Price of trout(T):

Last year = $6 per pound

This year = $9 per pound

Last year's Relative price of Hamburger =

                                                                  =

                                                                  = 0.833

This year's Relative price of Hamburger =

                                                                  =

                                                                  = 0.888

The relative Price of Hamburger has decreased, so Phillip would be expected to purchase more.

2,283,000

explanation:

i just had to add it

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