Divide; Round Off Monetary Quotients to the Nearest Cent; Round

question 14

Short Answer

Divide; round off monetary quotients to the nearest cent; round non-monetary quotients to four decimal places.
​​
a.$17.55 ¸ 7
b.13.115 ¸ 3.28
c.1.32 ¸ 0.16

---

Definitions:

Long Run

A period in economics in which all factors of production and costs are variable, allowing for full adjustment to changes.

Total Revenue

Total revenue is the total income generated by a company from its sales of goods or services before any expenses are subtracted.

Total Cost

The sum of all costs incurred in the production of goods or services, including both fixed and variable costs.

Profit-Maximizing

A strategy where a firm adjusts its production and pricing to achieve the highest possible profit.