Suppose an Increase in Price Decreases Quantity Demanded from 210

question 105

Multiple Choice

Suppose an increase in price decreases quantity demanded from 210 to 190 units. Using the mid-point formula, what is the percentage change in quantity demanded?

• A) 2 = 200 percent
• B) −0.2 = −20 percent
• C) 0.2 = 20 percent
• D) −0.1 = −10 percent

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Definitions:

Alcohol

An organic compound characterized by the presence of a hydroxyl group (-OH) attached to a carbon atom, widely used in industry and chemistry.

Predict

To declare or indicate in advance; especially : foretell on the basis of observation, experience, or scientific reason.

Following

In the context of a sequence or process, it refers to something that comes after or as a result of another thing.

Reaction Mechanism

The step-by-step sequence of elementary reactions by which overall chemical change occurs, detailing the specific way in which atoms or groups of atoms move and bonds are formed or broken.