The Vector Gives the Number of Units of Two

question 36

Multiple Choice

The vector gives the number of units of two models of laptops produced by a company. The vector gives the prices (in dollars) of the two models of laptops, respectively. Use dot products to determine the revenue for these two laptops if the price of each is increased by 7%.

---

Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market stability.

Tax on Sellers

A tax on sellers is a levy imposed by the government on sellers of certain goods and services, which often leads to a shift in supply curve and price adjustments.

Increases Supply

A rise in the quantity of a good or service that producers are willing and able to sell at a given price, often due to reductions in production costs or improvements in technology.

Tax on Sellers

A financial charge imposed by the government on sellers, which can shift the supply curve upward and affect market equilibrium.