After Performing Several Clever Calculations on Your Calculator, the Display

question 87

Multiple Choice

After performing several clever calculations on your calculator, the display shows the answer 53.655001. What is the appropriate value rounded to two decimal places?

• A) 53.65
• B) 53.66
• C) 53.64
• D) 53.60

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Definitions:

Decisions at the Margin

Economical decision-making process involving small changes to existing conditions, analyzing the cost and benefit of incremental adjustments.

Additional Costs

Expenses that are not initially accounted for in the budget or pricing but arise during the execution of a project or the production of goods.

Marginal Analysis

Marginal analysis refers to the examination of the benefits and costs of a small (marginal) change in the production, consumption, or allocation of resources.

Ceteris Paribus

A principle in economics that states other conditions remain constant while one variable changes.