822 Recently Purchased Books Were Randomly Selected from All Recent

question 111

Multiple Choice

822 recently purchased books were randomly selected from all recent book purchases over the Internet. The chart below shows the breakdown of the classification of the book type. What percentage of the books in the sample were self-help books?

• A) 11.44
• B) .1144
• C) 1.82
• D) 0.0182
• E) 0.940

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Definitions:

Fixed Costs

Business expenses that remain constant regardless of the level of production or business activity, such as rent, salaries, and loan payments.

Cross Elasticity

A measure of how the demand for one good responds to a change in the price of another good.

Normal Good

A good for which demand increases as the income of consumers increases, and falls when consumer income decreases.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specified time period.