Simplify. Write the Answer with Positive Exponents Only

question 66

Essay

Simplify. Write the answer with positive exponents only.

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Definitions:

Economic Profit

The total revenue of a business minus its explicit and implicit costs, including opportunity costs.

Raw Materials

Basic substances in their natural, modified, or semi-processed state, used as inputs for production.

Annual Rate of Return

The percentage of profit or loss on an investment over a one-year period.

How Much Decision

A consumer's determination of the quantity of a good or service to purchase, balancing the marginal utility and the price.