The relative price of any commodity is its price in terms of A. dollars. B. foreign currencies. C. another commodity. D. gold.

option (C) another commodity.

Explanation: The relative price of any commodity is its price in terms of another commodity. A relative price maybe expressed in terms of ratio between the prices of any two goods. Relative price simply refers to the ratio of prices. They are often expressed in terms of consumer price indices and are pertinent in making international comparison. Consumers are conscious of monetary prices of product but most have the intuition that the really important thing is the price of product to other prices such as the wage rate.

The Correct Answer is  C

Another commodity

Explanation:

reducing the scale of the market for a new product.