According to the Text, What Is the Ratio of Average

question 61

Multiple Choice

According to the text, what is the ratio of average rate of consumption when comparing an average person in North America to an average person in Africa?

• A)3:1
• B)5:1
• C) 9:1
• D) 12:1

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Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given period of time.

Total Revenue

The total income received by a firm from the sale of its products or services.

Price

Price is the amount of money expected, required, or given in payment for something, reflecting its value in terms of currency.

Coefficient

A numerical or constant quantity placed before and multiplying the variable in an algebraic expression, often representing a measure of some property.