Determine Whether the Given Point Is in the Solution Set

question 39

Multiple Choice

Determine whether the given point is in the solution set of the system of inequalities graphed below.

• A) Yes
• B) No

---

Definitions:

Price Leadership

A market strategy where one leading company sets the price of goods or services, and other companies in the sector follow suit.

Covert Collusion

An implicit, non-public agreement between firms to fix prices, limit production, or divide markets, without explicit communication.

Allocative Efficiency

A state of the economy where resources are allocated in a way that maximizes the overall benefit to society.

Productive Efficiency

Occurs when a good or service is produced at the lowest possible cost, utilizing all resources efficiently.