If prices were kept constant at 2016 levels, then according to the data in Exhibit 18-5, production between 2016 and 2017 changed by

Question

Quizplus · Accepted Answer

To calculate the change in production, we can use the formula:

Change in production = ((New production - Old production) / Old production) x 100

If we keep prices constant at 2016 levels, then we can compare production levels directly from the table. We can see that production in 2016 was 80,000 units and production in 2017 was 100,000 units.

Using the formula above, we can calculate the change in production as:

((100,000 - 80,000) / 80,000) x 100 = 25%

Therefore, the correct answer is C, 25 percent.

If Prices Were Kept Constant at 2016 Levels, Then According