Write the Staircase Slope in Fraction Notation and Simplify It $\frac { 25 } { 47 }$

question 11

Multiple Choice

Write the staircase slope in fraction notation and simplify it to lowest terms. Both measures are in inches, so units may be disregarded. 6.25 to 11.75

• A) \(\frac { 25 } { 47 }\)
• B) \(\frac { 27 } { 47 }\)
• C) \(\frac { 23 } { 47 }\)
• D) \(\frac { 6.1 } { 11.3 }\)
• E) \(\frac { 61 } { 113 }\)

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Definitions:

Continuous Demand

Demand for a good or service that can be quantified at every level of production or price, without any gaps.

First Theorem of Welfare Economics

A principle stating that under certain conditions, a market in equilibrium will allocate resources efficiently in a way that maximizes total social welfare.

Competitive Equilibrium

A market state where supply equals demand, leaving no incentive for price changes as long as external conditions remain constant.

Homothetic Preferences

Preferences where if a consumer prefers a bundle of goods A to B, they will also prefer a scaled-up version of A to the same scale-up of B, maintaining the same proportions.