The price of bread in terms of gallons of milk per loaf is 0.6 and the price a gallon of milk in terms of pounds of butter per gallon is 1.2. What is the relative price of bread to butter?

Question

Quizplus · Accepted Answer

To find the relative price of bread to butter, we need to find the ratio of the price of bread in terms of butter.

Price of bread in terms of butter = Price of bread in terms of milk / Price of milk in terms of butter
= 0.6 / 1.2
= 0.5

Therefore, the relative price of bread to butter is 0.5 or 0.72. The best choice is option C, as it is the closest option to the calculated value of 0.5.

The Price of Bread in Terms of Gallons of Milk