The table below illustrates the supply schedule of maize. Use it to answer this question. PRICE(#) QUANTITY SUPPLIED(kg) 24 480 16 400 The percentage change...

The table below illustrates the supply schedule of maize. Use it to answer this question.

The percentage change in quantity supplied for maize is

Answer Details

To calculate the percentage change in quantity supplied, we need to use the following formula: Percentage Change = ((New Value - Old Value) / Old Value) x 100% In this case, the old value is the quantity supplied at a price of 24 (#), which is 480 (kg), and the new value is the quantity supplied at a price of 16 (#), which is 400 (kg). So, using the formula, we get: Percentage Change = ((400 - 480) / 480) x 100% Percentage Change = (-80 / 480) x 100% Percentage Change = -16.67% Therefore, the percentage change in quantity supplied for maize is 16.67% (rounded to one decimal place).