<|system|>
Find $\frac{1}{2}\left(\frac{3}{4}\right)^3$.</s>.
<|user|>
Can you answer based on context?
<|assistant|>
Recall that $\left(\frac{a}{b}\right)^n=\frac{a^n}{b^n}$. In this case, we have \[
\frac{1}{2}\left(\frac{3}{4}\right)^3 = \frac{1}{2} \cdot \frac{3^3}{4^3} = \frac{3^3}{2\cdot 4^3} = \frac{27}{128}
\]