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Read the method of solving the system of equations.
Solving the first equation for y , we have . Substituting this value of y into the second equation, we have
The equation is quadratic. We write it in standard form and apply the quadratic formula.
Use the method shown above to solve the system of equations.
Legal Minimum
A legally established lower boundary on the price at which a good or service can be sold in the market.
Market Price
The contemporary price point at which goods or services can be transacted in a trading space.
Rent-Control Laws
Regulations that limit the amount landlords can charge for leasing residential properties to ensure affordability.
Minimum Rent
The least amount of money that a lessee may pay to lease a property for a specific period, often set by contractual agreement.
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