Write the Percentage as a Fraction or Decimal, as Indicated $83 \frac { 1 } { 3 } \%$

question 246

Multiple Choice

Write the percentage as a fraction or decimal, as indicated.
-Write as a fraction. $83 \frac { 1 } { 3 } \%$

• A) \(\frac { 25 } { 3 }\)
• B) \(\frac { 5 } { 12 }\)
• C) \(\frac { 5 } { 3 }\)
• D) \(\frac { 5 } { 6 }\)

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Definitions:

Economic Profits

Profits exceeding the opportunity costs of all resources used, including both explicit and implicit costs.

Accounting Profits

The difference between total revenues and explicit costs, representing the net income a company reports on its financial statements.

Most Efficient Output

The level of production at which a firm operates with the lowest average total cost, achieving optimal efficiency.

Long Run

A period in economic analysis in which all inputs can be adjusted and no factors are fixed.