From the context, the reader can determine that the word i’ means in.
Explanation:
It is common to use apostrophes as a substitution of letters in some words, in most of the cases the apostrophe substitutes a vowel but there are also examples were consonants are eliminated, here the line of hamlet is making use of the expression "you are in the right" which means that the person is morally or legally correct in their actions or thoughts.
From the context, the reader can determine that the word i’ means the following:
in.
Explanation:
Hamlet states anyone who acts with villainy will indeed be regarded as a villain in Denmark. Horatio tells Hamlet it does not take a ghost returning from his grave to tell them that, since it is rather obvious. To which Hamlet replies: "Why, right; you are i’ the right", that is, "Why, right; you are in the right", which "translates" as "You are totally right!."