Evaluate the Expression Without a Calculator $$\left( \frac { 1 } { 7 } \right) ^ { 0 }$$

question 27

Multiple Choice

Evaluate the expression without a calculator. Hint: Change decimals to fractions. $$\left( \frac { 1 } { 7 } \right) ^ { 0 }$$

• A) 70
• B) 0
• C) 7
• D) \(\frac { 1 } { 7 }\)
• E) 1

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Definitions:

Quantity Demanded

The amount of a good or service that consumers are willing and able to purchase at a specific price.

Physicals

Refers to physical commodities or assets, as opposed to financial instruments or derivatives, that are traded or examined.

Price Ceiling

A government-imposed limit on how high a price can be charged on a product or service, intended to protect consumers.

Market Price

The amount of money a buyer is willing to pay and a seller is willing to accept for a good or service in a competitive market.