Meal tickets at the circus cost
for children and
for adults. If
meal tickets were bought for a total of
how many children and how many adults bought meal tickets?
A system of linear equations consists of two or more equations made up of two or more variables such that all equations in the system are considered simultaneously.
The solution to a system of linear equations in two variables is any ordered pair that satisfies each equation independently. See
[link] .
Systems of equations are classified as independent with one solution, dependent with an infinite number of solutions, or inconsistent with no solution.
One method of solving a system of linear equations in two variables is by graphing. In this method, we graph the equations on the same set of axes. See
[link] .
Another method of solving a system of linear equations is by substitution. In this method, we solve for one variable in one equation and substitute the result into the second equation. See
[link] .
A third method of solving a system of linear equations is by addition, in which we can eliminate a variable by adding opposite coefficients of corresponding variables. See
[link] .
It is often necessary to multiply one or both equations by a constant to facilitate elimination of a variable when adding the two equations together. See
[link] ,
[link] , and
[link] .
Either method of solving a system of equations results in a false statement for inconsistent systems because they are made up of parallel lines that never intersect. See
[link] .
The solution to a system of dependent equations will always be true because both equations describe the same line. See
[link] .
Systems of equations can be used to solve real-world problems that involve more than one variable, such as those relating to revenue, cost, and profit. See
[link] and
[link] .
Section exercises
Verbal
Can a system of linear equations have exactly two solutions? Explain why or why not.
No, you can either have zero, one, or infinitely many. Examine graphs.
If you are performing a break-even analysis for a business and their cost and revenue equations are dependent, explain what this means for the company’s profit margins.
If you are solving a break-even analysis and there is no break-even point, explain what this means for the company. How should they ensure there is a break-even point?
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
