What is the relative price of wheat in North Dakota prior to trade in Case II?
A)2 bushels of wheat = ½ bottle of beer
B)½ bushel of wheat = 2 bottles of beer
C)1 bushel of wheat = ½ bottle of beer
D)1 bushel of wheat = 2 bottles of beer

Question

Quizplus · Accepted Answer

The relative price of wheat in North Dakota prior to trade is given as 1 bushel of wheat for 2 bottles of beer.

What Is the Relative Price of Wheat in North Dakota