Find a Number Such That 10 More Than One-Third of the Number

question 117

Multiple Choice

Find a number such that 10 more than one-third of the number equals three-fourths of the number.

• A) 26
• B) 23
• C) 25
• D) 24

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Definitions:

Perfectly Competitive Industry

A market structure characterized by many buyers and sellers, free entry and exit, and a homogeneous product.

Short-Run Industry

An industry characterized by the presence of fixed and variable costs, where firms cannot enter or exit the market easily in the short term.

Marginal Cost Curves

A graphical representation that shows how the cost of producing one more unit of a good changes as production increases.

Average Variable Cost

The total variable costs (costs that change with the level of output) divided by the quantity of output produced, indicating the variable cost per unit of output.