Solve the System by Elimination

question 342

Multiple Choice

Solve the system by elimination.
--7x - 4y = -12 -3x - 2y = -6

• A) (0, 3)
• B) (0, 4)
• C) No solution
• D) (-1, 4)

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Definitions:

Principal-Agent Problem

A conflict in priorities between a person or group (the agent) making decisions on behalf of another person or group (the principal).

Efficiency Wages

Efficiency wages are higher than market wages paid by employers to increase productivity, worker loyalty, and morale.

Above-Equilibrium Wage Rates

Wages set above the market equilibrium, often leading to surplus labor supply or unemployment, as employers demand less labor at higher wage rates.

Opportunity Cost of Shirking

The benefits a worker forgoes by choosing to shirk (reduce their level of effort or productivity) at work, which could include potential wage increases, promotions, or job security.