Write the Comparison Below as a Ratio in Simplest Form $\frac { 2 } { 11 }$

question 43

Multiple Choice

Write the comparison below as a ratio in simplest form using a fraction, a colon (:) , and the word to. 12 dollars to 66 dollars

• A) \(\frac { 2 } { 11 }\) 2 : 11 2 to 11
• B) \(\frac { 11 } { 2 }\) 11 : 2 11 to 2
• C) \(\frac { 12 } { 66 }\) 12 : 66 12 to 66
• D) \(\frac { 2 } { 66 }\) 2 : 66 2 to 66
• E) \(\frac { 66 } { 12 }\) 66 : 12 66 to 12

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Definitions:

Opportunity Costs

The cost of forgoing the next best alternative when making a decision or choice.

Implicit Costs

Indirect, non-out-of-pocket expenses which represent the opportunity costs of using resources owned by the firm for its operations.

Accounting Profit

The difference between total revenue and explicit costs.

Economic Profit

The difference between total revenue and total costs, including explicit and implicit costs.