If the Relative Price of S in Terms of T

question 10

Multiple Choice

If the relative price of S in terms of T is 2 and S has a nominal price of $1,then the nominal price of T is

• A)$2.
• B)50 cents.
• C)1/2 S.
• D)Need more information to answer.

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Definitions:

Divide

The process of splitting a number into equal parts or groups, or finding how many times one number is contained within another.

Multiply

The arithmetic operation of scaling one number by another, essentially repeated addition.

Multiply

The arithmetic process of calculating the result of adding a number to itself a certain number of times.

Simplify

To simplify means to reduce an expression or equation to its simplest form, by combining like terms, reducing fractions, etc.