Convert to the Fractional Equivalent and Reduce to Lowest Terms $\frac { 2039 } { 1000 }$

question 95

Multiple Choice

Convert to the fractional equivalent and reduce to lowest terms: 20.399

• A) \(\frac { 2039 } { 1000 }\)
• B) \(20 \frac { 2 } { 5 }\)
• C) \(20 \frac { 399 } { 1000 }\)
• D) 21

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Definitions:

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor of production, such as labor.

Productivity

Productivity measures the efficiency of production in terms of the amount of goods and services produced from a given amount of inputs, such as labor and capital, within a specific period.

Derived Demand

Derived demand refers to the demand for a good or service that originates from the demand for another good or service.

Final Demand

The demand for finished goods and services by consumers, businesses, and government, excluding intermediate goods.