Solved

If the Relative Price of One Unit of Good X

Question 119

Multiple Choice

If the relative price of one unit of good X is 5 units of good Y, then it follows that the absolute price of good X can be __________ and the absolute price of good Y can be __________.


A) $20,000; $10,000
B) $40,000; $8,000
C) $30,000; $5,0000
D) $5,000; $40,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q72: If the absolute price of a new

Q74: Buyers always prefer lower prices to higher

Q113: Exhibit 4-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX9059/.jpg" alt="Exhibit 4-7

Q116: Exhibit 4-8 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX9059/.jpg" alt="Exhibit 4-8

Q117: Exhibit 4-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX9059/.jpg" alt="Exhibit 4-4

Q117: A price floor creates a situation in

Q118: Price serves as<br>A)a rationing device and a

Q120: ​Exhibit 4-11 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX9059/.jpg" alt="​Exhibit 4-11

Q122: If the current market price of good

Q123: There are two goods in the economy,