Suppose a Decrease in Price Increases Quantity Demanded from 8

question 68

Multiple Choice

Suppose a decrease in price increases quantity demanded from 8 to 12 units. Using the mid-point formula, what is the percentage change in quantity demanded?

• A) 0.1 = 10 percent
• B) 40 = 400 percent
• C) 0.40 = 40 percent
• D) −0.40 = −40 percent

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Definitions:

Merchants Bancorp

An American banking company involved in providing banking and financial services.

Holder In Due Course

A person who acquires a negotiable instrument in good faith and for value, thus having certain protections against defenses and claims.

Assignee

The party to whom rights or property are transferred in an agreement.

Transferor

An individual or entity that transfers its rights or properties to another.