Find an Equation of Variation in Which Y Varies Inversely $y = 30$

question 64

Multiple Choice

Find an equation of variation in which y varies inversely as x and the following is true.
- $y = 30$ , when $x = 2$

• A) \(y = \frac { 32 } { x }\)
• B) \(y = \frac { 15 } { x }\)
• C) \(y = 15 x\)
• D) \(y = \frac { 60 } { x }\)

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Definitions:

Labor Supply Curve

A graphical representation showing the relationship between the wage rate and the quantity of labor workers are willing to offer at those wages.

Marginal Cost

The cost incurred in producing one additional unit of a product or service, a key concept in economics to optimize production levels.

Weekly Wage Rate

The amount of money an individual earns for one week of work, typically based on an hourly or salaried basis.

Monopolistic Producer

A company or entity that is the sole supplier of a particular product or service, giving it significant control over market price and production.