Simplify $$\left( \frac { 5 } { 8 } \right) ^ { - 2 }$$

question 30

Multiple Choice

Simplify. $$\left( \frac { 5 } { 8 } \right) ^ { - 2 }$$

• A) \(\frac { 1 } { 2 }\)
• B) \(\frac { 64 } { 25 }\)
• C) \(- \frac { 25 } { 64 }\)
• D) \(- \frac { 5 } { 4 }\)

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Definitions:

Market Price

Market price is the price at which a good or service is bought and sold in the marketplace, determined by the forces of supply and demand.

Long-Run Equilibrium

A state in which all inputs can be adjusted by firms, and no firm has an incentive to change its production level, leading to a stable economic condition.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.

Economic Losses

Financial losses suffered by an individual or organization, often as a result of unfavorable business conditions or activities.