The Graph Below Shows the Percentage of Students Enrolled in the College

question 13

Multiple Choice

The graph below shows the percentage of students enrolled in the College of Engineering at State University. Use the graph to
answer the question.
-Between what two years is the difference in function values equal to 5%?

• A) between 1995 and 2000
• B) between 1990 and 1995
• C) between 1980 and 1985
• D) between 1970 and 1975

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Definitions:

Market Price

The existing selling or buying price for an asset or service in the specified market.

Price Taker

A price taker is a market participant that does not have the ability to dictate the price of a good or service but must accept the market price as given.

Perfectly Elastic

Describes a market situation where demand or supply is completely responsive to changes in price, resulting in infinite sensitivity.

Demand Curve

A diagram illustrating the link between the cost of an item and the desired quantity by buyers.