Solve the Problem

question 4

Multiple Choice

Solve the problem. Round to the nearest hundredth, if necessary.
-What is 5% of 500?

• A) 25
• B) 2.5
• C) 0.25
• D) 250

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Definitions:

Production Possibilities Frontier

A graph that shows the highest possible production levels for two or more products based on certain input resources.

Infeasible Levels

Conditions or scenarios that cannot be achieved or realized due to practical or theoretical constraints.

Efficient

Achieving maximum productivity with minimum wasted effort or expense, often in the context of economic resource allocation.

Economy

The system by which goods and services are produced, distributed, and consumed within a society or geographic area.