Solve the System by Graphing $$\left\{ \begin{array} { l } \frac { 1 } { 2 } x - y = 1 \\x = 2\end{array} \right.$$

question 63

Multiple Choice

Solve the system by graphing. If there is no solution or an infinite number of solutions, so state. Use set notation to
express the solution set.
- $$\left\{ \begin{array} { l } \frac { 1 } { 2 } x - y = 1 \\x = 2\end{array} \right.$$

• A) \(\{ ( 2,0 ) \}\)
• B) \(\left\{ \left( 2 , \frac { 1 } { 2 } \right) \right\}\)
• C) \(\{ ( 2,1 ) \}\)
• D) \(\{ ( 0,2 ) \}\)

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Definitions:

Perfect Competitor

A market structure where numerous small firms compete against each other, and products are homogenous, with no single firm able to influence the market price.

Monopolistic Competitor

A firm in a market structure where many companies sell products that are similar but not perfect substitutes, leading to some degree of market power.

Long Run

A period in economics where all factors of production and costs are variable, allowing for adjustments in production levels.

Profit-Maximizing

A strategy where a firm determines the price and production level that yields the highest possible profit.