Provide the Proper Response

question 38

Not Answered

Provide the proper response.
-A homework problem was "Find of $1,300." Student answers were $3.25, $32.5, $325, and $3,250. Which is correct? What mistakes were made in getting the answers that are wrong?

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Definitions:

Derived Demand

Demand for a commodity, service, etc., that is a consequence of the demand for something else.

Inputs Demand

The requirement for resources and materials necessary to produce goods and services in an economy.

Secondary Demand

The desire for products and services that derive from the demand for another product or service.

Derived Demand

The demand for a good, service, or factor of production resulting from the demand for another good or service.