Suppose that we have the following price data YearPrice of GasolinePrice of Soda1987$.89 per gallon$.35 per 16 oz. bottle2005$ 2.39 per gallon$1.49 per 16 oz. bottle a) Calculate the...

Suppose that we have the following price data Year Price of Gasoline Price of Soda 1987 $.89 per gallon $.35 per 16 oz. bottle 2005 $ 2.39 per gallon $1.49 per 16 oz. bottle a) Calculate the percentage change in the price of each good. b) Calculate the percentage change in the relative price of gasoline in terms of soda. Year Relative Price of Gasoline 1987 $.89 / .35 = 2.54 2005 $ 2.39 /1.49 = 1.60 c) Why do we only worry about relative prices in economics?