Solve the System of Equations by Using the Addition Method $$\begin{array} { l } 0.6 x + 0.1 y = 0.3 \\3 x - 0.4 y = 0.6\end{array}$$

question 24

Multiple Choice

Solve the system of equations by using the addition method.
- $$\begin{array} { l } 0.6 x + 0.1 y = 0.3 \\3 x - 0.4 y = 0.6\end{array}$$

• A) \(\{ ( 1,1 ) \}\)
• B) \(\left\{ \left( \frac { 1 } { 3 } , 1 \right) \right\}\)
• C) \(\{ ( 0,3 ) \}\)
• D) \(\{ ( 1 , - 24 ) \}\)

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Definitions:

Inelastic

A description of a good's demand when consumers’ demand for it does not significantly change with a change in the good's price.

Total Revenue

The total income received by a firm from its sales of goods or services, calculated as the quantity sold times the price per unit.

Price Lowered

A decrease in the cost of a good or service to consumers.

Price Elasticity

A measure of the responsiveness of quantity demanded or supplied of a good to a change in its price.