Figure 21-5

-Refer to Figure 21-5.In graph (a),what is the price of good X relative to good Y (i.e.,PX/PY)?
A) 1/4
B) 1/3
C) 3
D) 4

Name: Figure 21-5 -Refer to Figure 21-5.In graph (a),what is the price of good X relative to good Y (i.e.,PX/PY)? A) 1/4 B) 1/3 C) 3 D) 4
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Question

Figure 21-5

-Refer to Figure 21-5.In graph (a),what is the price of good X relative to good Y (i.e.,PX/PY)?
A) 1/4 
B) 1/3 
C) 3 
D) 4

Quizplus · Accepted Answer

The price of good X relative to good Y (PX/PY) is determined by the slope of the budget line in graph (a). If the slope is 4, then PX/PY = 4.

Figure 21-5 -Refer to Figure 21-5.In Graph (A),what Is the Price of 21-5.In