Suppose Quantity Supplied Increases from 16 to 24

question 83

Multiple Choice

Suppose quantity supplied increases from 16 to 24.Using the mid-point formula,the percentage change in quantity supplied is:

• A) 40%
• B) 0.4%
• C) 4%
• D) 40%.

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Definitions:

Ordinal Data

A type of categorical data with a set order or scale but without a fixed interval between values.

Rating

An evaluation or assessment, usually expressed as a rank or score, that indicates the quality, performance, or suitability of someone or something.

Restaurant

An establishment where meals are prepared and served to customers in exchange for payment.

Nominal Data

Data that consist of names, labels, or categories without any inherent order or ranking among them.