Relative price is
A)The price of one good in comparison with the price of other goods.
B)A decrease in purchasing power because of rising prices.
C)The amount of income a particular good requires.
D)The current price paid for a good or service.

Question

Quizplus · Accepted Answer

Relative price refers to the price of a particular good or service in comparison to other goods or services. It is the ratio of the price of one good to the price of another good. For example, if a pizza costs $10 and a hamburger costs $5, the relative price of the pizza is two hamburgers.

Relative Price Is