Suppose when the price of pizza goes from $8 to $12 per pie, production increases from 2,500 pies to 4,000 pies per month. Using the mid-point method, what is the percentage change in price?
A) 40 percent
B) 46 percent
C) 50 percent
D) 33 percent

Question

Quizplus · Accepted Answer

The mid-point method for calculating percentage change in price is given by the formula: [(New Price - Old Price) / ((New Price + Old Price) / 2)] * 100. Substituting the given values: [($12 - $8) / (($12 + $8) / 2)] * 100 = ($4 / $10) * 100 = 40 percent.

Suppose When the Price of Pizza Goes from $8 to $12