The money price of a Persian rug is $100 and the money price of an Egyptian kaftan
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The money price of a Persian rug is $100 and the money price of an Egyptian kaftan is $25.
a. What is the opportunity cost of a Persian rug in terms of an Egyptian kaftan?
b. What is the relative price of an Egyptian kaftan in terms of Persian rugs?
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a The opportunity cost of a Persian rug in terms of an Egyptian kaftan is determined by how many ka...View the full answer
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