Please help me asap!! i’ll give you 40 points extra !!
1 answer:
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Solution:
we are given with
Today the price of a Jeep is $25,000. In 1970, the price was $5,000.
So we can write
The price of a Jeep, today = $25,000
The price of a Jeep,in 1970 = $ 5,000
Relative Price means price of a good relative to other. Its a ratio of the two goods times 100.
Hence the price relative is $500/-