Classify the Highlighted Value in the Table

question 24

Multiple Choice

Classify the highlighted value in the table. ​

• A)a relative maximum
• B) a saddle point
• C) a relative minimum
• D) none of these

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Definitions:

Price System

The mechanism through which the prices of goods and services are established in a market economy, based on supply and demand.

Disinflation

A reduction in the rate of inflation; a slowdown in the rate at which prices increase.

Hyperinflation

A significantly rising inflation rate that accelerates quickly, leading to a swift decrease in the value of currency.

Variety

The range of different items, products, or choices available within a category or market.