A relative price is
A) the ratio of one price to another.
B) an opportunity cost.
C) a quantity of a "basket" of goods and services forgone.
D) determined by demand and supply.
E) all of the above.
Correct Answer:
Verified
Q1: Which market is an example of a
Q3: How many sides does a market have?
A)one
Q7: Which market is an example of a
Q13: Use the table below to answer the
Q13: The demand and supply model determines
A)relative prices.
B)money
Q14: Use the table below to answer the
Q17: A market where no single buyer or
Q31: Use the figure below to answer the
Q32: Use the figure below to answer the
Q35: An increase in income
A)increases the demand for
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