Consider a Consumer Who Divides His Income Between Spending on Good

question 33

Multiple Choice

Consider a consumer who divides his income between spending on good X and good Y.The opportunity cost of good X in terms of good Y is reflected by the

• A)absolute price of good X.
• B)absolute price of good Y.
• C)ratio of the price of X to the price of Y.
• D)ratio of the price of Y to the price of X.
• E)price of good X relative to the prices of all other goods.

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Definitions:

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A recurring core issue or pattern that shapes an individual's decisions, actions, and life direction.

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