Solve the Problem. -Jon Has 1035 Points in His Math Class. He Must

question 23

Multiple Choice

Solve the problem.
-Jon has 1035 points in his math class. He must have 87% of the 1400 points possible by the end of the term to receive credit for the class. What is the minimum number of additional points he must earn by the end of the
Term to receive credit for the class?

• A)365 points
• B)183 points
• C)900 points
• D)1218 points

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Definitions:

Optimal Scale

The size of a company or factory at which the costs of production are minimized and productivity is maximized.

Long-run Equilibrium

A state in economic analysis where all inputs can be adjusted, market supply meets demand, and all firms in the market earn normal profit, indicating no entry or exit from the industry.

Low Point

Refers to the lowest level or value that something can reach, often used in the context of prices, rates, or economic indicators.

Average Total Cost Curve

A graphical representation showing how the total cost per unit of output varies with the level of output, typically U-shaped due to economies and diseconomies of scale.