Illustration of Absolute and Relative Prices

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The price of KnickKnacks is $1 and the price of WigWags has increased with $2 to $3. Therefore: (w) absolute price of KnickKnacks has decreased and the relative price of WigWags has increased. (x) relative and absolute prices of KnickKnacks have decreased. (y) relative price of KnickKnacks has decreased and the absolute price of WigWags has increased. (z) absolute prices of KnickKnacks and WigWags have increased.

Please guys help to solve this problem of Absolute and Relative Prices in economics with some explanation.

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