Change the Fraction to a Mixed Number in Simplest Form $\frac { 42 } { 36 }$

question 289

Essay

Change the fraction to a mixed number in simplest form. $\frac { 42 } { 36 }$

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Definitions:

Price-Searcher Market

A market structure where sellers have some control over the price of their products because they offer unique goods or services, differentiating them from competitors.

Economic Profit

The surplus or profit generated by a company after accounting for both explicit and implicit costs, indicating financial performance.

Maximum Earning

The highest possible income or profit that an entity or individual can achieve under given conditions.

Contestable Market

A market in which the costs of entry and exit are low, so a firm risks little by entering. Efficient production and zero economic profits should prevail in a contestable market.