Use the Method of Substitution to Solve the System

question 110

Multiple Choice

Use the method of substitution to solve the system.

• A)( - 3, -16 )
• B)( - 3, -16 ), ( 6, 11 )
• C)( 6, 11 )
• D)( - 3, -16 ), ( 5, 11 )
• E)no solution

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Definitions:

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded; also known as the market-clearing price.

Equilibrium Quantity

The measure of goods or services that are supplied and demanded at the price of equilibrium within a market setting.

Equilibrium Price

The transaction price at which the quantity of goods on the market meets the quantity buyers want to purchase.

Equilibrium Quantity

The quantity of a good or service at which quantity supplied equals quantity demanded in the market.