Solve the Problem. -Jamil Always Throws Loose Change into a Pencil Holder on Pencil

question 119

Multiple Choice

Solve the problem.
-Jamil always throws loose change into a pencil holder on his desk and takes it out every two weeks. This time it is all nickels and dimes. There are 5 times as many dimes as nickels, and the value of the dimes is $4.50 more Than the value of the nickels. How many nickels and dimes does Jamil have?

• A)11 nickels and 55 dimes
• B)10 nickels and 50 dimes
• C)9 nickels and 45 dimes
• D)50 nickels and 10 dimes

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Definitions:

Perfectly Competitive

Pertains to a market condition where all participants have equal access to information and transactions, resulting in an efficient distribution of resources.

Marginal Product

The additional output derived from employing one more unit of a given input, while keeping other inputs constant.

Marginal Product

The additional output generated by employing one more unit of a specific factor of production, keeping other factors constant.

Perfectly Competitive

A market structure where there are many sellers and buyers, products are homogeneous, and there is free entry and exit, leading to efficient outcomes and zero economic profits in the long run.