Write the Fraction in Lowest Terms $\frac { 195 } { 208 }$

question 93

Multiple Choice

Write the fraction in lowest terms.
- $\frac { 195 } { 208 }$

• A) \(\frac { 15 } { 16 }\)
• B) \(\frac { 15 } { 13 }\)
• C) \(\frac { 13 } { 16 }\)
• D) \(\frac { 195 } { 208 }\)

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Definitions:

Economic Profits

The surplus remaining after subtracting total costs from total revenues, including both explicit and implicit costs.

Positive Economic Profits

Positive economic profits occur when a firm's total revenues exceed its total costs, inclusive of both explicit and implicit costs.

Monopolist

An entity that is the sole provider of a particular product or service in the market, possessing the power to significantly influence prices and supply.

Maximum Profit

The highest possible financial gain a firm can achieve when all factors of production are optimized.