The relative price of good X is 5 units of good Y. It follows that the absolute price of good X can be ____ and the absolute price of good Y can be _.

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01-07-2021
Business

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The relative price of good X is 5 units of good Y. It follows that the absolute price of good X can be ____ and the absolute price of good Y can be _.

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I hope someone sees this!!! Can someone check my work please??

Munali Munali · Answer 1 · 2021-07-03T03:17:25-04:00

Munali Munali

03-07-2021

Answer:

$40,000 and $8,000

Explanation:

Relative price of good X is 5 units of good Y. The absolute value of good X is $40,000. Absolute value is the original value of a good while relative value is based on price of some identical or similar good. The absolute value of good Y is $8,000.

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