Simplify the Numerical Expression $$\frac { 7 } { 8 } - \frac { 6 } { 7 }$$

question 55

Multiple Choice

Simplify the numerical expression. Remember that fractions are not considered simplified unless they are reduced. $$\frac { 7 } { 8 } - \frac { 6 } { 7 }$$

• A) \(\frac { 1 } { 56 }\)
• B) \(1\)
• C) \(\frac { 1 } { 4 }\)
• D) \(\text { D }\)
• E) \(\frac { 3 } { 4 }\)

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Definitions:

Demand Schedule

A table that shows the quantity of a good or service that consumers are willing and able to purchase at different prices.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance.

Surplus

An excess of production or supply over demand, often leading to a decrease in prices.

Shortage

A situation where the demand for a product exceeds the available supply, often leading to higher prices.