The price of a cup of coffee is $2.00.The price of a cup of tea is $1.20.The relative price of a cup of tea with respect to a cup of coffee is
A) 0.6 cups of coffee.
B) 1.67 cups of coffee.
C) $0.80.
D) 1.20 cups of coffee.
E) 2 cups of coffee.
Correct Answer:
Verified
Q2: The magnitude of the slope of the
Q3: Sarah has an income of $100.She purchases
Q4: The price of one good divided by
Q5: When speaking of the price of the
Q6: Use the figure below to answer the
Q7: If the price of the good measured
Q8: If the price of the good measured
Q9: If income decreases,the budget line
A)becomes steeper.
B)becomes flatter.
C)shifts
Q10: Suppose all prices double and income also
Q11: David has an income of $60 to
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