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:

Operating Cost

Expenses associated with running a business's core operations, typically including costs of goods sold, labor, and overhead.

Useful Life

The estimated period of time during which an asset is expected to be usable, contributing to a company's operations.

Value-Based Pricing

Pricing strategy where the price of a product or service is determined based on the perceived value to the customer rather than the cost of production.

Operating Cost

The total expense associated with the normal operations of a business, excluding cost of goods sold.