A Quantity Decreases by 8% Each Week for 7 Weeks

question 29

Multiple Choice

A quantity decreases by 8% each week for 7 weeks.What is the total percentage decrease over the 7-week period? Round your answer to two decimal places if necessary. ​

• A) 55.91%
• B) 44.37%
• C) 56%
• D) 44.22%

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Definitions:

Productive Resource

An economic term for the inputs used in the production of goods or services in the attempt to make an economic profit.

Inelastic

Describing a situation where the demand or supply for a good or service is not highly sensitive to changes in price.

Loan Interest

The additional amount paid by a borrower to a lender in exchange for the use of borrowed money, often expressed as an annual percentage rate.

Loan

A form of financial agreement in which a lender provides funds to a borrower with the expectation of being repaid, usually with interest, over a specified period.