Figure 21-5
(a) (b)
-Refer to Figure 21-5. In graph (b), what is the price of good X relative to the price of good Y (i.e., Px/Py)?

A) 1/3
B) 1
C) 3
D) 10

Name: Figure 21-5 (a) (b) -Refer to Figure 21-5. In graph (b), what is the price of good X relative to the price of good Y (i.e., Px/Py)? A) 1/3 B) 1 C) 3 D) 10
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Question

Figure 21-5
(a) (b)  
-Refer to Figure 21-5. In graph (b), what is the price of good X relative to the price of good Y (i.e., Px/Py)?

A) 1/3 
B) 1 
C) 3 
D) 10

Quizplus · Accepted Answer

Px/Py = 1/3 because the slope of the budget line is -1/3.