What is the percentage decrease in quantity demanded of TVs at the orginal price? - tvs for eliptical
Suppose the first prize of $ 200, sells 40 TVs were, every week, and if the price rose to $ 210, quantity demanded to 30 televisions.
What is the percentage decrease in quantity demanded of TVs at the original price?
A) 1.33%
B) 25%
C) 33%
D) 75%
E) 133%
I know the answer, but I do not know how to calculate it. Can someone show me?
Tuesday, January 26, 2010
Tvs For Eliptical What Is The Percentage Decrease In Quantity Demanded Of TVs At The Orginal Price?
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The answer is coreect B) 25%.
ReplyDeleteHere's how:
Percentage decrease in quantity demanded of TVs is
New amount - original amount
-------------------------------------- ... X 100%
Initial amount
30 to 40
---------- X 100%
40
-10
------ X 100%
40
-1000
--------
40
= -25% = 25% (excluding the minus sign).
The negative sign indicates an inverse relationship between price and quantity.