The relative price of a good is
A) the ratio of the price of a good to the income of the purchaser.
B) the ratio of one price to another and an opportunity cost.
C) the cost of its factors of production.
D) the same as the money price of a good.
E) a household's income divided by the number of goods purchased.
Correct Answer:
Verified
Q8: Which one of the following events shifts
Q9: How many sides does a market have?
A)two
Q10: Use the table below to answer the
Q11: Use the table below to answer the
Q12: The law of demand states that, other
Q14: The demand and supply model determines
A)supply prices
Q15: The opportunity cost of good A in
Q16: Use the table below to answer the
Q17: Which market is an example of a
Q18: Which market is an example of a
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