Simplify the Fraction to Lowest Terms $\frac { 2 } { 3 }$

question 86

Multiple Choice

Simplify the fraction to lowest terms. $\frac { 2 } { 3 }$

• A) \(0.2\)
• B) \(\frac { 1 } { 3 }\)
• C) \(\frac { 1 } { 2 }\)
• D) \(\frac { 3 } { 2 }\)
• E) Does not simplify further.

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Definitions:

Variable Costs

Costs that vary directly with the level of production or sales, such as materials and labor costs.

Fixed Costs

Expenses that do not vary with the level of production or sales, such as rent, salaries, and insurance.

Variable Costs

Expenses that change in proportion to the activity of a business, such as the cost of raw materials or production volume.

Total Revenue

The amount of money generated from sales of goods or services before any expenses are subtracted.