Suppose the price of a tie rises from $45 to $55.Using the midpoint method,what is the percentage change in price?
A) 10 percent
B) -10 percent
C) 20 percent
D) -20 percent
E) 100 percent

Question

Quizplus · Accepted Answer

The formula for the percentage change using the midpoint method is ((new value - old value) / midpoint) x 100%. The midpoint is halfway between the old and new values, which is (45 + 55) / 2 = 50. Plugging in the values, we get ((55 - 45) / 50) x 100% = 20%. Therefore, the percentage change in price is 20 percent.

Suppose the Price of a Tie Rises from $45 to $55.Using