Simplify the Expression: ⁹⁄₅ • 1 ²⁄₃

question 101

Multiple Choice

Simplify the expression:
⁹⁄₅ • 1 ²⁄₃

• A)3
• B)3 ²/₃
• C)3 ⁵/₆
• D)3 ¹/₄

Recognize the impact of regulatory changes on industry competition and pricing.

Understand the conditions for long-run economic profit or loss in price-taker markets.

Assess the minimum price a firm would need to charge to cover its average total cost in the long run.

Distinguish between price searchers and price takers.

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Definitions:

Capital Account

In economics, part of a nation's balance of payments that records all transactions involving the purchase and sale of assets such as stocks, bonds, and real estate.

Financial Accounts

Records that track the financial activities and situation of an entity, including assets, liabilities, equity, income, and expenses.

Surplus

The amount by which the quantity of a good or service supplied exceeds the quantity demanded at a specific price.

Net Investment Income

The total income received from investment assets, such as dividends, interest, and rental income, minus expenses related to the investment.