Figure 21-5

question 151

Multiple Choice

Figure 21-5
(a) (b)

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

• A) 1
• B) 1/3
• C) 3
• D) 10

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Definitions:

Activity Index

A measurement used to assess the level or rate of operations or actions within a particular area, often in relation to productivity or economic indicators.

Variable Costs

Costs that change in proportion to the level of production or sales volume.

Mixed Cost

A cost that contains both variable and fixed cost elements, meaning part of the cost changes with the level of activity while another part remains constant.

Selling

Activities or processes involved in promoting and exchanging goods or services for money, including marketing and negotiation.