Suppose Price Increases from $7

question 34

Multiple Choice

Suppose price increases from $7.00 to $13.00. Using the mid-point formula, what is the percentage change in price?

• A) −0.6 = −60 percent
• B) 0.6 = 60 percent
• C) 0.7 = 70 percent
• D) 1.30 = 130 percent

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Definitions:

Act of God

Natural events outside of human control, such as hurricanes, earthquakes, or floods, which are not caused by and cannot be prevented by humans.

Garage

A building or secured area designed for the storage and maintenance of vehicles.

Shed

A small building, typically made of wood or metal, used for storage or as a workshop, commonly found in gardens or backyards.

Sub-Bailment

A situation where a bailee (person who receives property) further entrusts the bailed property to another person, under a sub-bailment contract.