Suppose price decreases from $27.00 to $13.00. Using the mid-point formula, the percentage change in price is:
A. 0.35 = 35 percent.
B. 0.7 = 70 percent.
C. 0.7 = 70 percent.
D. 14 percent.
B. 0.7 = 70 percent.
Economics
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Other things equal, expected income can be used as a direct measure of well-being
A) always. B) no matter what a person's preference to risk. C) if and only if individuals are not risk-loving. D) if and only if individuals are risk averse. E) if and only if individuals are risk neutral.
Economics
Which of the following statements about markets is correct? I. A market helps resources move to their highest-valued uses by means of prices changes. II. A market represents the exchanges of both buyers and sellers
A) I only B) II only C) Both I and II D) Neither I nor II
Economics