What Is the Value of 2⁸

question 25

Multiple Choice

What is the value of 2⁸?

• A) 28
• B) 16
• C) 2576
• D) 280

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Definitions:

Perfectly Inelastic

A situation in demand where the quantity demanded does not change in response to a change in price.

Insulin

A hormone produced by the pancreas that regulates blood glucose levels by facilitating the uptake of glucose into tissues, used medically to treat diabetes.

Quantity Demanded

The total amount of a good or service that consumers are willing to buy at a given price level in a given period.

Perfectly Inelastic

Describing a situation where the quantity demanded or supplied of a good does not change in response to a price change.