The relative price of a good is
A) the ratio of one price to another and an opportunity cost.
B) the ratio of the price of a good to the income of the purchaser.
C) a household's income divided by the number of goods purchased.
D) the same as the money price of a good.
E) the cost of its factors of production.
Correct Answer:
Verified
Q2: The opportunity cost of good A in
Q3: How many sides does a market have?
A)one
Q4: Which one of the following events shifts
Q5: Which market is an example of a
Q6: Use the table below to answer the
Q7: William Gregg owned a mill in South
Q8: Use the table below to answer the
Q9: Use the table below to answer the
Q10: A market where no single buyer or
Q11: The opportunity cost of a hot dog
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents