Perform the Operation and Give the Answer as a Fraction $\left( - \frac { 5 } { 7 } \right) \left( \frac { 1 } { 5 } \right)$

question 401

Multiple Choice

Perform the operation and give the answer as a fraction in lowest terms.
- $\left( - \frac { 5 } { 7 } \right) \left( \frac { 1 } { 5 } \right)$

• A) \(\frac { 1 } { 5 }\)
• B) \(- \frac { 7 } { 25 }\)
• C) \(- \frac { 1 } { 7 }\)
• D) \(- \frac { 1 } { 3 }\)

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Definitions:

Price Floor

A government- or group-imposed limit on how low a price can be charged for a product, above the equilibrium price, leading to surpluses.

Surplus

A situation where the quantity supplied exceeds the quantity demanded at the current price; often refers to excess in budget or resources.

Equilibrium Quantity

The quantity of goods or services supplied equals the quantity demanded at the market equilibrium price.

Economic Welfare

The overall health and well-being of an economy, measured by factors such as wealth, happiness, and the distribution of resources.