System of Equations:


p=6−2q 
p=2+q 
Plot both equations on a graph.
The values of pp and qq that solve these two equations simultaneously can be seen on the graph as
A. the inverse of the slopes of the two lines
B. the slopes of the two lines
C. the coordinates at which the two lines intersect
D. the value of the intercepts of the two lines
The first equation is:
p = 6  2q
The second equation is:
p = 2 + q
Plotting both equations on graph:
The values of price and quantity that solve these two equations simultaneously are the coordinates at which the two lines intersect. This is because at the point of intersection, both...
Q: With trade, Guatemala will a) export 22 units of coffee. b) export 10 units of coffee. c) impor...
A: Click to see the answer
Q: Given an individual’s current consumption patterns, we know that the person is consuming in such a m...
A: Click to see the answer
Q: What is the Federal Reserve System? Why was it created?
A: The Federal Reserve system usually referred to as ‘The Fed’ that is the central bank of the united s...
Q: 1. Measuring employment, unemployment, and labor force participation Consider a small economy compos...
A: Raphael’s status is employed.Susan’s status is unemployed. This is because she has completed her las...
Q: Answer Question 6B only
A: B.It is given that,The market price of Tshirt = $60 and Tshirts are produced in a perfectly compet...
Q: GoGo Pizza is producing at the profitmaximizing level of output in a monopolistically competitive m...
A: (i) A monopolistic competitive firm maximises its profits, he will produce at a price where Marginal...
Q: Refer to Table 139. The marginal products of hiring additional workers are a) increasing at an...
A: An additional output produced by an additional worker is known as marginal product (MP).
Q: Why do firms, in the long run, continue to stay in the industry if they are earning 0 profits?
A: Answer  In the long run where the every input can vary and as in the long run where firms can make ...
Q: Consider the following algebraic identity discussed in class: C+I+G+(XM) = C+S+T Modify the algebra...
A: The GDP is calculated by summating the consumption expenditure, investment expenditure, government e...