Solve the Inequality $$\frac { x } { x + 4 } \geq 2$$

question 30

Multiple Choice

Solve the inequality. Write the solution set in interval notation.
- $$\frac { x } { x + 4 } \geq 2$$

• A) \(( - \infty , - 8 ] \cup ( - 4 , \infty )\)
• B) \([ - 8 , - 4 )\)
• C) \(( - 4,8 ]\)
• D) \(( - \infty , - 4 ) \cup [ 0 , \infty )\)

Understand the concept of cross elasticity of demand and how it indicates the relationship between goods.

Apply the midpoint formula to calculate the price elasticity of demand.

Analyze how changes in price affect the quantity demanded based on the elasticity coefficient.

Determine the elasticity of supply and its implications for pricing decisions.

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Definitions:

Potential Output

The highest level of real GDP that an economy can achieve when using its resources fully and efficiently, without causing inflation.

Nominal Wages

The amount of money paid to workers before considering the effects of inflation on purchasing power.

Price Level

A measure of the average level of prices of goods and services in the economy at a specific time.

Passive Approach

An investment strategy that aims to maximize returns by minimizing buying and selling actions, typically by investing in long-term vehicles like index funds.