If the price of good X is $30 and the price of good Y is $5,it follows that the relative price of one unit of good X is approximately_____________ unit(s)of good Y.
A) 6.00
B) 2.00
C) 0.75
D) 0.25
E) 0.50

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, which is $30/$5 = 6. This means one unit of good X is equivalent to 6 units of good Y.

If the Price of Good X Is $30 and the Price