Ryan Bought a Phone with an Original Price of $145

question 8

Multiple Choice

Ryan bought a phone with an original price of $145.80. He received a 25% discount off the phone, which amounted to $36.45. How much did he pay for the phone?

• A) $109.35
• B) $119.45
• C) $171.25
• D) $182.25

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Definitions:

Labor Market

The supply and demand dynamics of labor forces, where employers seek to hire workers and workers seek employment.

Equilibrium

The state in a market where supply equals demand, leading to stable prices.

Immigration

The action of coming to live permanently in a foreign country. It can influence a country's economy, culture, and demographics.

Equilibrium Wage

The wage rate at which the quantity of labor supplied equals the quantity of labor demanded in the market, resulting in no unemployment.