Solve the Equation $6 ^ { 2 x - 1 } = \frac { 1 } { 6 }$

question 51

Short Answer

Solve the equation. $6 ^ { 2 x - 1 } = \frac { 1 } { 6 }$

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Definitions:

Total Revenue Test

A method used to assess the elasticity of demand by observing changes in total revenue following a price change.

Quantity Supplied

The actual amount of a good or service producers are willing to sell at some specific price.

Supply Curve

A graphical representation that shows the relationship between the price of a good and the quantity of the good that suppliers are willing and able to sell, holding other factors constant.

Price-elastic

Refers to the responsiveness of the demand for a good to a change in its price; highly price-elastic goods see significant changes in demand when prices fluctuate.