Two Measurements Are Given $- 492$ People Per Square Mile Relative Difference

question 92

Multiple Choice

Two measurements are given. Find the absolute difference and then find the relative difference as a percentage. Assumethat the first quantity is the compared value and the second quantity is the reference value. Round answers to the nearesttenth if necessary.
-The population density in country A is 113 people per square mile while in country B, it is 605 people per square mile.

• A) Absolute difference: \(- 492\) people per square mile Relative difference: \(- 8.1 \%\)
• B) Absolute difference: 492 people per square mile Relative difference: \(\mathbf { 4 3 5 . 4 \% }\)
• C) Absolute difference: \(- 492\) people per square mile Relative difference: \(- 435.4 \%\)
• D) Absolute difference: \(- 492\) people per square mile Relative difference: \(- 81.3 \%\)

Calculate profit per unit and understand how it is maximized.

Distinguish between industry and firm demand curves in perfect competition.

Explain the significance of the lowest point on the average total cost curve.

Understand the relationship between a perfect competitor's demand curve and their marginal revenue curve.

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Definitions:

Public Good

A commodity or service that is provided without profit to all members of a society, either by the government or a private individual or organization.

Eugenics

A set of beliefs and practices aimed at improving the genetic quality of the human population, often associated with morally controversial and discriminatory policies.

Population

The total number of people inhabiting a particular country, area, or place.

Eugenics

A set of beliefs and practices aimed at improving the genetic quality of the human population, historically associated with discriminatory and unethical policies.