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Use a graphing calculator to find the inverse of the matrix.
Equilibrium Price
The rate at which the supply of goods equals the demand for goods.
Quantity Demanded
The total amount of a good or service that consumers are willing to purchase at a given price.
Quantity Supplied
The cumulative volume of a specific good or service that suppliers are enthusiastic and able to sell at a given price within a set timeframe.
Price Floor
A government- or authority-set minimum price for certain goods or services, aimed at preventing prices from falling below a certain level.
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