Solve the Equation $$\log _ { 2 } x = - 3$$

question 31

Multiple Choice

Solve the equation. Use a calculator where appropriate. If the answer is irrational, round to the nearest hundredth.
- $$\log _ { 2 } x = - 3$$

• A) \(\frac { 1 } { 8 }\)
• B) \(\frac { 1 } { 6 }\)
• C)-8
• D)8

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, meaning there is no excess supply or demand.

Equilibrium Quantity

The amount of products or services available that matches the amount consumers are willing to buy at the equilibrium price in the market.

Equilibrium Point

Point at which quantity demanded equals quantity supplied; where demand and supply curves cross.

Equilibrium Price

The cost at which the amount of a product supplied matches the amount of the product desired.