Multiply and Reduce Your Answer to Lowest Terms $\frac { 1 } { 9 } \cdot \frac { 3 } { 7 }$

question 82

Multiple Choice

Multiply and reduce your answer to lowest terms. $\frac { 1 } { 9 } \cdot \frac { 3 } { 7 }$

• A) \(\frac { 1 } { 3 }\)
• B) \(3\)
• C) \(63\)
• D) \(\frac { 1 } { 63 }\)
• E) \(\frac { 1 } { 21 }\)

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Definitions:

Marginal Revenue Product Curve

A graphical representation showing how the revenue generated from selling an additional unit of a good or service changes as more units are produced.

Purely Competitive Seller

A firm operating in a market where it must accept the prevailing market price and cannot influence it.

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 inputs remain at a constant.

Market Value

The current price at which an asset or service can be bought or sold in the open market.