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Solve the problem. Where appropriate, round to the nearest tenth of a percent.
-On a biology test, a student got 25 questions correct but did not pass. On a second attempt, the Student got 31 questions correct. What was the percent increase?
Necessity
An essential requirement or need for something.
Luxury Good
A good for which demand increases more than proportionally as income rises, often seen as non-essential but desirable.
Price Elasticity Coefficient
A measure that quantifies the responsiveness of the quantity demanded of a good to a change in its price.
Price Elasticity
A measure of how much the quantity demanded of a good responds to a change in the price of that good, influencing pricing and marketing strategies.
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