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The quantity required declines by 15% when a product's price is raised by 10%. in this range of prices, demand for this product is: unrelated.
Here it is: a- Elasticity is the ratio of the change in quantity required to the change in price.
-15/10 = -1.5
B. The items are unrelated to one another if there is no change in quantity of one commodity as a result of a change in price of another.
What distinguishes percent from percentage?
The latin word "percent" is Per Centum. Centum is a Latin term that signifies 100, hence a century is equal to 100 years. According to my dictionary, a percentage is the outcome of multiplying a number by a percentage. Therefore, 5 apples make up 10% of 50 apples, with 5 apples constituting the percentage. However, both terms are frequently used in the same manner.
The Latin word per centum, which means "hundred" or "by the hundred," is where the word "percent" originates. The Italian word per cento, which means "for a hundred," gradually shrank to become the symbol for "percent." Per was frequently shortened to "p" and finally vanished completely. Two circles and a horizontal line made up the "cento," which is where the present "%" sign is from.
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