Write 72% as a Decimal Number and a Proper Fraction

question 26

Multiple Choice

Write 72% as a decimal number and a proper fraction in lowest terms.

• A)7.2; 72/1000
• B)7.2; 72/100
• C)0.72; 36/50
• D)0.72; 18/25

Identify and calculate socially optimal quantities and prices in markets affected by externalities.

Analyze the effects of positive and negative externalities on private and social costs and benefits.

Evaluate the role of government interventions such as taxes, subsidies, and regulations in correcting market inefficiencies caused by externalities.

Distinguish between private and social values/costs in the context of externalities.

---

Definitions:

Increase

A rise or growth in quantity, size, number, or some other measure.

Inelastic Demand

A situation where the demand for a good or service is not significantly affected by changes in its price.

Downward-Sloping

A term often used to describe demand curves, indicating that as the price decreases, the quantity demanded increases.

Linear Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded, characterized by a consistent negative slope.