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Q. What is a percentage?
Ans.
Percent means "per hundred", or "out of 100". A percentage can be written as a ratio, or fraction, where the denominator (bottom) is 100.
The symbol "%" means percent, so when you see this symbol following a number, you are actually talking about some amount over 100, or what you call a percentage.
Example Suppose the demand and cost functions are given by Q = 21 - 0.1P and C = 200 + 10Q Where, Q - Quantity sold
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