Is ximing better off-the same or worse off

Reference no: EM13190030

During his first year at school, Ximing buys eight new college textbooks at a cost of $50 each. Used books cost $30 each. When the bookstore announces a 20% price increase in new texts and a 10% increase in used texts for the next year, Ximings father offers him $80 extra. Is Ximing better off, the same, or worse off after the price change? Why?

Reference no: EM13190030

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