Use the table below to answer the following questions.
Table 3.1.1
-Refer to Table 3.1.1.In 2017,the relative price of cola in terms of tea is
A)1.00.
B)2.20.
C)0.91.
D)2.00.
E)1.10.

Question

Use the table below to answer the following questions.
Table 3.1.1 
-Refer to Table 3.1.1.In 2017,the relative price of cola in terms of tea is
A)1.00. 
B)2.20. 
C)0.91. 
D)2.00. 
E)1.10.

Quizplus · Accepted Answer

To find the relative price of cola in terms of tea, we need to divide the price of cola by the price of tea. In 2017, the price of cola was $2.00 and the price of tea was $2.20. Therefore, the relative price of cola in terms of tea is 2.00/2.20 = 0.91.

Use the Table Below to Answer the Following Questions