Suppose price increases from $7.00 to $13.00. Using the mid-point formula, the percentage change in price is:
A. .0.6 = 60 percent.
B. 0.6 = 60 percent.
C. 70 percent.
D. 130 percent.
B. 0.6 = 60 percent.
You might also like to view...
Specialization of labor makes sense only if there is some means of exchange.
Answer the following statement true (T) or false (F)
The Fourteenth Amendment was applied to the railroads in the Santa Clara County v Southern Pacific Railroad (1886) decision even though the original intent of that amendment had been to protect the property of former slaves
Indicate whether the statement is true or false
The cross-price elasticity of demand of products "A" and "B" is zero. This implies that "A" and "B" are
A. independent products. B. unique goods, as the price elasticity of demand for one of them is zero. C. substitute products. D. complementary products.
To look at the health of the economy, economists would most probably look at indictors such as:
A) nominal GDP, level of investment and, the general price level. B) level of saving, nominal GDP and, the inflation rate. C) the general price level, employment rate and, level of saving. D) real GDP, unemployment rate and, the inflation rate.