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Write the system of linear equations represented by the augmented matrix. Use x, y, z, and, if necessary, w for the
variables. Then use back-substitution to find the solution.
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Total Costs
The combined total of fixed and variable costs involved in the manufacturing of goods or services.
Daily Profit
The financial gain a business makes in a single day, calculated by subtracting total expenses from total revenue for that day.
Marginal Costs
The advance in complete cost due to the manufacturing of one additional unit of a good or service.
Cournot Duopolists
Firms in a duopoly market structure that base their competition strategies on the quantity of output, assuming the reaction of the other firm to find an equilibrium.
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