A Certain Test Is Worth 140 Points

question 16

Multiple Choice

A certain test is worth 140 points. How many points (rounded to the nearest point) are needed to obtain a score of 85%? ​

• A) 61 points
• B) 119 points
• C) 124 points
• D) 165 points
• E) 55 points

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Definitions:

Monopolistic Competition

A market structure where many firms sell products that are similar but not identical, allowing for competition based on product differentiation.

Market Demand

The total demand for a product or service in a market, aggregating all individual demands at various prices.

Long Run

A period of time in which all factors of production and costs are variable, allowing companies to adjust to market changes.

Monopolistically Competitive

Refers to a market structure where many firms sell products that are similar but not identical, allowing for some degree of market power.