If the price of good X is $100 and the price of good Y is $25,it follows that the relative price of one unit of good X is _____________ unit(s)of good Y.
A) 1.00
B) 4.00
C) 0.25
D) 1.33
E) 0.75

Question

Quizplus · Accepted Answer

The relative price of one unit of good X in terms of good Y is calculated by dividing the price of good X by the price of good Y. Therefore, $100 / $25 = 4. This means one unit of good X is worth 4 units of good Y.

If the Price of Good X Is $100 and the Price