A Decimal Point Is Used When Working with Dollars, but the Decimal

question 112

Multiple Choice

A decimal point is used when working with dollars, but the decimal point is not necessary when working with cents. For each dollar amount, give the equivalent amount expressed as cents.
$7.70, and $0.62

• A) 77, and 62
• B) 7.7, and 62
• C) 770, and 62
• D) 770, and 620
• E) 770, and 6.2

---

Definitions:

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where supply equals demand.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a specific price over a given period of time.

Quantity Demanded

The total amount of a good or service that consumers are willing to purchase at a given price within a specific time period.

Surplus

An excess of production or supply over demand.