Figure 21-3

-Refer to Figure 21-3.In graph (b),if income is equal to $210,what is the price of good Y
A)$42
B)$44
C)$46
D)$48

Question

Figure 21-3
 
-Refer to Figure 21-3.In graph (b),if income is equal to $210,what is the price of good Y
A)$42 
B)$44 
C)$46 
D)$48

Quizplus · Accepted Answer

The price of good Y can be determined by dividing the income by the quantity of good Y that can be purchased with that income. If income is $210 and the price of good Y is $42, then $210/$42 = 5 units of good Y, which matches the graph's indication.

Figure 21-3 -Refer to Figure 21-3.In Graph (B),if Income Is Equal to Income