Suppose the Local University Charges $85 Per Credit Hour

question 274

Multiple Choice

Suppose the local university charges $85 per credit hour.If tuition increases from $85 to $93 per credit hour,using the midpoint method,what is the percentage change in price?

• A) 8.99 percent
• B) 8.00 percent
• C) 9.41 percent
• D) 8.62 percent
• E) 9.12 percent

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Definitions:

Government Planning Committee

A body within the government responsible for setting goals, designing strategies, and overseeing the implementation of policies and plans.

Capital

Economic resources that are used by firms to produce goods or services, including buildings, machinery, and equipment.

Capitalist Country

A country that operates on the economic system of capitalism, where private individuals own the means of production and operate for profit.

Resources

The assets, materials, and inputs used to produce goods and services, including natural resources, human talent, and capital.