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...

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).