For the Remaining Questions, Reduce All Fractions to Their Simplest

question 3

Short Answer

For the remaining questions, reduce all fractions to their simplest forms. Convert all improper fractions to mixed numbers. Provide answers in the following format:
Fraction: 3/4
Mixed number: 1 5/8
-Letter J measures what distance on the tape?

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Definitions:

Operating Expenses

Costs associated with the day-to-day operations of a business, excluding costs related to production.

Law of Diminishing Returns

An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain at a constant.

Marginal Product

The additional output that is produced by employing one more unit of a particular input, keeping all other inputs constant.

Variable Resource

An input in production that can be adjusted in the short term to change the level of output.