Solve the System of Equations Using Substitution $$\left\{ \begin{array} { r } x y = 20 \\x + y = 9\end{array} \right.$$

question 178

Multiple Choice

Solve the system of equations using substitution.
- $$\left\{ \begin{array} { r } x y = 20 \\x + y = 9\end{array} \right.$$

• A) x = 6, y = 3; x = 3, y = 6
• B) x = 10, y = 2; x = 2, y =10
• C) x = 5, y = 4; x = 4, y = 5
• D) x = 20, y = 1; x = 1, y = 20

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Definitions:

MRP of Labor

Marginal Revenue Product of Labor; the additional revenue generated by employing one more unit of labor.

Monopsonist

A market condition where there is only one buyer for a particular product or service, giving that buyer significant power over prices.

Marginal Resource Cost

The additional cost incurred by acquiring one more unit of a resource, such as labor or capital.

Imperfectly Competitive Market

A market structure where individual sellers have some control over the price of their goods due to lack of perfect competition, often resulting in higher prices for consumers.