Business, 21.09.2019 05:10, Geo777

William gregg owned a mill in south carolina. in december 1862, he placed a notice in the edgehill advertiser announcing his willingness to exchange cloth for food and other items. here is an extract: 1 yard of cloth for 1 pound of bacon 2 yards of cloth for 1 pound of butter 4 yards of cloth for 1 pound of wool 8 yards of cloth for 1 bushel of salt calculate the relative price of 1 pound of butter in terms of pounds of wool. if the price of bacon is $0.20 a pound, what do you predict is the money price of a pound of wool? > > > answer to 2 decimal places. the relative price of 1 pound of butter is 2 pounds of wool. if the price of bacon is $0.20 a pound, you would predict that the price of a pound of wool

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William gregg owned a mill in south carolina. in december 1862, he placed a notice in the edgehill a...