Multiple Choice
Figure 21-5
(a) (b)
-Refer to Figure 21-5. In graph (a) , what is the price of good X relative to the price of good Y (i.e., PX/PY) ?
A) 1/3
B) 1/4
C) 3
D) 4
Correct Answer:
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(a) (b)
(a) (b)
In each case, the budget constraint