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Equivalent fractions are fractions that:

  1. Are different but represent the same amount

  2. Have the same denominator but different numerators

  3. Have the same numerator

  4. Represent different amounts

The correct answer is: Are different but represent the same amount

Equivalent fractions are fractions that, despite having different numerators and denominators, represent the same value or amount. For example, the fractions 1/2 and 2/4 are equivalent because they both represent the same portion of a whole. While different fractions may share the same denominator or numerator, having these attributes alone does not ensure that the fractions are equivalent. The key characteristic of equivalent fractions is that they indicate the same quantity, even if they appear different. Therefore, recognizing that they can look different but still express the same amount is foundational for understanding fractions and their relationships.