Suppose that when the price of pizza goes from $7 to $10 per pie,production increases from 2,500 pies per month to 4,000 pies.Using the mid-point method,the percentage change in price would be:
A)35 percent.
B)46 percent.
C)1.31.
D)0.35.

Question

Quizplus · Accepted Answer

The mid-point method for calculating percentage change is to take the average of the initial and final values, and then divide the difference between the final and initial values by the average. In this case, the average price is (7+10)/2 = 8.5, and the difference between the final and initial prices is 10-7 = 3. Therefore, the percentage change in price is 3/8.5 * 100 = 35.29%, which is closest to choice A, 35%.

Suppose That When the Price of Pizza Goes from $7