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03-11-2016
Social Studies

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A relative price compares _________________.

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madisonchastain1022 madisonchastain1022

04-11-2016

A relative price is the price of a commodity such as a good or service in terms of another; the ratio of two prices. A relative price may be expressed in terms of a ratio between any two prices or the ratio between the price of one particular good and a weighted average of all other goods available in the market.

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