Answer:
The absolute price is the amount of money needed to buy a particular good, and the relative price is the price of a good in relation to the price of another good.
The absolute price of peanut butter has risen because it has gone from $3 to $3.60.
The relative price of peanut butter (relative to the price of almond butter) has also risen because it was = $3 / $5 = $0.60, and now it is = $3.6 / $5.5 = $0.65.
