Betty consumes good x and good y.If the price of x = $3 and the price of y = $4,then
A) an extra unit of x costs 4/3 units of y.
B) an extra unit of y costs 4/3 units of x.
C) an extra unit of x costs 3/4 units of y.
D) Both B and C.

Question

Quizplus · Accepted Answer

The price ratio of x to y is 3/4, meaning an extra unit of x costs 3/4 units of y, and conversely, an extra unit of y costs 4/3 units of x, making both B and C correct.

Betty Consumes Good X and Good Y