Which of the Following Choices Constitutes a Simultaneous Solution to These

question 92

Multiple Choice

Which of the following choices constitutes a simultaneous solution to these equations? $$\begin{array} { l } 3 \mathrm { x } + 4 \mathrm { y } = 10 \\5 \mathrm { x } + 4 \mathrm { y } = 14\end{array}$$

• A) x = 2, y = .5
• B) x = 4, y = -.5
• C) x = 2, y = 1
• D) x = y
• E) y = 2x

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Definitions:

Demand Curves

Graphic representations showing the relationship between the price of a good or service and the quantity of that good or service people are willing and able to buy.

Supply Curves

A graphical representation of the relationship between the price of a good or service and the quantity supplied for a given period.

Consumer Surplus

The difference between the maximum price a consumer is willing to pay for a good or service and the market price they actually pay.

Producer Surplus

The difference between the amount producers are willing to sell a product for and the amount they actually receive, representing a measure of producer welfare.