Derive a Set of Inequalities to Describe the Region $\left\{ \begin{array} { c } y \geq \frac { 5 } { 4 } x \\y \geq 0 \\x \leq 4\end{array} \right.$

question 60

Multiple Choice

Derive a set of inequalities to describe the region.
Triangle: vertices at (0, 0) , (4, 0) , (4, 5)

• A) \(\left\{ \begin{array} { c }
• y \geq \frac { 5 } { 4 } x \\
• y \geq 0 \\
• x \leq 4
• \end{array} \right.\)
• B) \(\left\{ \begin{array} { c }
• y \leq \frac { 5 } { 4 } x \\
• x \geq 4
• \end{array} \right.\)
• C) \(\left\{ \begin{array} { c }
• y \geq \frac { 4 } { 5 } x \\
• y \geq 0 \\
• x \leq 4
• \end{array} \right.\)
• D) \(\left\{ \begin{array} { c }
• y \leq \frac { 5 } { 4 } x \\
• y \geq 0 \\
• x \leq 4
• \end{array} \right.\)
• E) \(\left\{ \begin{array} { c }
• y \leq \frac { 5 } { 4 } x \\
• x \leq 4
• \end{array} \right.\)

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Definitions:

Producer Surplus

The difference between the amount that a producer is paid for a good or service and the lowest amount they are willing to accept for that good or service.

Consumer Surplus

The gap between the price consumers are prepared to pay and the actual price they pay for a product or service, signifying the advantage received by consumers.

Price Floor

A legal minimum price below which a good or service cannot be sold.

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