Insert the Correct Response

question 1

Short Answer

Insert the correct response. Reduce ratios and fractions to the lowest terms.
-Change 35:14 to a decimal number. ____________________

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Definitions:

Economies Of Scale

The cost advantages that enterprises obtain due to their scale of operation, resulting in a decreased cost per unit of production.

Single-Firm

Refers to a market situation dominated by a single producer or service provider.

Network Externalities

Effects on a user of a product or service that depend on the number of other users of the same or compatible products or services.

Smartphone Market

The sector of the economy that deals with the production, sale, and distribution of smartphones and related services.