Answer:
See Explanation
Step-by-step explanation:
The question is incomplete; However, one can deduce from the options that the question refers to percentage change.
I will give two illustrations that shows how to calculate percentage change.
Illustration 1
Consider goods x with the following price change.
[tex]Old = \$45[/tex]
[tex]New = \$55[/tex]
The percentage change is:
[tex]\%Change = \frac{New - Old}{Old} * 100\%[/tex]
[tex]\%Change = \frac{55-45}{45} * 100\%[/tex]
[tex]\%Change = \frac{10}{45} * 100\%[/tex]
[tex]\%Change = \frac{1000}{45} \%[/tex]
[tex]\%Change = 22.22\%[/tex]
This means there is a 22.22% increase
Illustration 2
Consider goods x with the following price change.
[tex]Old = \$45[/tex]
[tex]New = \$35[/tex]
The percentage change is:
[tex]\%Change = \frac{New - Old}{Old} * 100\%[/tex]
[tex]\%Change = \frac{35-45}{45} * 100\%[/tex]
[tex]\%Change = \frac{-10}{45} * 100\%[/tex]
[tex]\%Change = -\frac{1000}{45} \%[/tex]
[tex]\%Change = -22.22\%[/tex]
The negative sign indicates percentage decrease
So, this means there is a 22.22% decrease
