Perform the Operation Involving Rational Numbers $\frac { 1 } { 4 } + \frac { 7 } { 8 } - \frac { 7 } { 16 }$

question 48

Multiple Choice

Perform the operation involving rational numbers. $\frac { 1 } { 4 } + \frac { 7 } { 8 } - \frac { 7 } { 16 }$

• A) \(\frac { 50 } { 32 }\)
• B) \(\frac { 22 } { 31 }\)
• C) \(\frac { 32 } { 22 }\)
• D) \(\frac { 22 } { 32 }\)

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Definitions:

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from the trade of goods or services.

Equilibrium

A state of balance where demand equals supply in a market, leading to a stable price.

Total Surplus

The aggregate of consumer surplus plus producer surplus in a marketplace, symbolizing the overall advantages to society.