Suppose an increase in price decreases quantity demanded from 210 to 190 units. Using the mid-point formula, what is the percentage change in quantity demanded?
A) 2 = 200 percent
B) −0.2 = −20 percent
C) 0.2 = 20 percent
D) −0.1 = −10 percent

Question

Quizplus · Accepted Answer

The percentage change in quantity demanded using the mid-point formula is calculated as: [(190 - 210) / ((190 + 210) / 2)] * 100 = [-20 / 200] * 100 = -10 percent.

Suppose an Increase in Price Decreases Quantity Demanded from 210