Solve the System, If Possible

question 4

Multiple Choice

Solve the system, if possible.

• A) x = -6, y = 1, z = -3
• B) x = 6, y = -1, z = 3
• C) x = 5, y = 8, z = -3
• D) x = 0, y = 6, z = -3
• E) no solution; inconsistent system

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Definitions:

Industry Supply

The total output of goods or services that firms in a specific industry are willing and able to sell at various price levels.

Decreasing-cost Industry

An industry where average costs of production decrease as the scale of output increases.

Long-run Equilibrium Price

The price at which the quantity of a good demanded equals the quantity supplied, with all adjustments made for factors affecting supply or demand over time.

Product Demand

The desire and willingness of consumers to purchase a particular product at various prices during a certain period.