Write the Percentage as a Fraction or Decimal, as Indicated $431 \%$

question 24

Multiple Choice

Write the percentage as a fraction or decimal, as indicated.
-Write as a decimal. $431 \%$

• A) \(4.31\)
• B) \(43.1\)
• C) \(0.431\)
• D) \(4.32\)

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Definitions:

Elastic

Describes a situation in which the quantity demanded or supplied of a good or service is significantly affected by changes in its price.

Pure Monopolist's Demand Curve

A graphical representation showing how a monopolist's quantity sold varies with price, typically downward sloping, reflecting that the monopolist can set prices above marginal costs.

Elastic

A characteristic of a good or service indicating that its demand or supply is sensitive to changes in price.

Marginal Revenue

The additional revenue that a firm receives from selling one more unit of a good or service.