Solve the Following Problem and Write the Answer as a Whole

question 36

Multiple Choice

Solve the following problem and write the answer as a whole number or fraction in the lowest terms: 3/200 ÷ 11/300.

• A)9/22
• B)3/7
• C)33/6,000
• D)900/2,200

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Definitions:

Property Rights

Legal rights to possess, use, and dispose of assets such as land, buildings, or intellectual property.

Efficient Allocation

Efficient allocation involves the distribution of resources in a manner that maximizes productivity and utility, often considered optimal in economic theory.

Government Failure

Situations where government interventions in the market lead to inefficiencies, misallocation of resources, or failure to achieve desired social or economic outcomes.

Market Failure

A situation in which the allocation of goods and services by a free market is not efficient, often justifying government intervention.