Larry spends all his $800 monthly income on pizza and milk. The price of pizza is $4 a slice, and the price of milk is $2 per quart. The relative price of milk is

Question

Quizplus · Accepted Answer

To find the relative price of milk we need to see how much pizza Larry can buy with the same amount of money he spends on one quart of milk.

One quart of milk costs $2, which means Larry can buy $2/$4 = 0.5 slices of pizza with the same amount. Therefore, the relative price of milk is 0.5 slices of pizza per quart, which is option B.

Larry Spends All His $800 Monthly Income on Pizza and Milk