Solve the Problem $y = \frac { 2771 x } { 100 - x }$

question 189

Multiple Choice

Solve the problem.
-Suppose a cost-benefit model is given by $y = \frac { 2771 x } { 100 - x }$ , where $y$ is the cost for removing $x$ percent of a given pollutant. What percent of pollutant can be removed for $\$ 36,000$ ? Round your answer to the nearest tenth of a percent.

• A) \(92.9 \%\)
• B) \(108.3 \%\)
• C) \(565.1 \%\)
• D) \(9.3 \%\)

Recognize factors determining whether demand or supply for a product is elastic or inelastic

Identify how changes in price affect total revenue depending on the elasticity

Understand the short-run and long-run adjustments in the market and their effects on elasticity

Describe the effects of taxes on market outcomes, including tax incidence and government revenue

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Definitions:

Surveys

Research methods that involve collecting data from a sample of individuals to gather information about their opinions, behaviors, or characteristics.

Sampling Bias

A statistical bias that occurs when the sample is not representative of the population from which it was drawn.

Representative Sample

A subset of a population that accurately reflects the members of the entire population.

Stratified Sample

A sampling method that divides the population into subgroups and selects samples from each, ensuring representation.