The relative price of a textbook is
A)the money price of the textbook divided by the money price of some other good.
B)the price of the textbook compared with what students think it should cost.
C)the amount it cost to make the textbook.
D)what the author earned for writing the textbook.

Question

Quizplus · Accepted Answer

The relative price of a textbook is determined by dividing the money price of the textbook by the money price of some other good. This allows for a comparison of the price of the textbook relative to the price of another good, making it easier to assess its affordability and value.

The Relative Price of a Textbook Is