Jack Is Twice as Old as Lacy

question 105

Multiple Choice

Jack is twice as old as Lacy. In two years the sum of their ages will be seventy three. How old are they now?

• A)Jack is 36; Lacy is 18
• B)Jack is 34; Lacy is 17
• C)Jack is 60; Lacy is 30
• D)Jack is 46; Lacy is 23
• E)Jack is 48; Lacy is 24

---

Definitions:

Loss

An economic condition where expenses exceed revenues, resulting in negative profit.

Price Discrimination

Price discrimination is the strategy of selling the same product at different prices to different groups of consumers, often based on their willingness to pay, location, or purchase volume.

Disguised Subsidy

Financial support given to industries or businesses in indirect ways, not easily identifiable as traditional subsidies, to lower their costs or increase their competitiveness.

Consumer Surplus

The gap between the total sum consumers are prepared and financially able to spend on a good or service and the sum they actually spend.