Use a Calculator to Approximate to Three Decimal Places $$\sqrt { \frac { 223.7 } { 83.7 } }$$

question 55

Multiple Choice

Use a calculator to approximate to three decimal places.
- $$\sqrt { \frac { 223.7 } { 83.7 } }$$

• A)1251.868
• B)2.673
• C)1.635
• D)-0.365

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Definitions:

Income And Substitution Effects

The changes in quantity demanded of a good due to a change in income (income effect) or a change in price leading consumers to substitute one good for another (substitution effect).

Demand Curve

A visual chart that illustrates how the quantity of a product demanded by customers varies according to its price.

Consumer Equilibrium

The point at which the satisfaction obtained from a good or service equals the price paid for it, maximizing utility.

Substitution Effect

The change in consumption resulting from a change in relative prices, leading consumers to substitute away from higher-priced goods towards lower-priced ones.