Answer:
Kindly check explanation
Step-by-step explanation:
Now assume an economic scenario whereby the market price of a certain goods has experienced inflation probably due to increased demand of the commodity. For instance, the market price of the nose masks and hand sanitizers went up by more than 25% at some time during the early stages of corona pandemic outbreak. This means that;
Sanitizer which were being sold at $5 before the pandemic sold for about (1 + 0.25) * $5 ; 1.25 * $25 = $6.25
