Percentage change is the ratio of the difference in prices to the old price. The percentage change from $7 to $11 is 57%
Given that:
[tex]Old = $7[/tex]
[tex]New = \$11[/tex]
The percentage change is calculated as follows:
[tex]\Delta = \frac{New - Old}{Old} \times 100\%[/tex]
So, we have:
[tex]\Delta = \frac{11- 7}{7} \times 100\%[/tex]
[tex]\Delta = \frac{4}{7} \times 100\%[/tex]
[tex]\Delta = 0.57\times 100\%[/tex]
[tex]\Delta = 57\%[/tex]
Hence, the percentage change is 57%.
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