Solve the System of Equations

question 328

Multiple Choice

Solve the system of equations.
-x + 2y + z = -3 x + y + 3z + w = -5

• A) (-5z - 2w - 10, 2z + w + 2, z, w)
• B) (-5z - 2w - 7, 2z + w + 2, z, w)
• C) No solution
• D) (-w - 7, w + 1, -w + 2, w)

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Definitions:

Highest Price

The highest price refers to the maximum price at which a product, asset, or service has traded during a particular period.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good suppliers are willing to offer for sale, holding all else equal.

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and free entry and exit from the market.

Pure Monopoly

A market structure characterized by a single seller controlling the entire market supply of a unique product, with no close substitutes.