Solve the Equation $\frac { 3 } { 2 } \left( t - \frac { 2 } { 3 } \right) + 7 = \frac { t + 1 } { 3 } - 1$

question 74

Multiple Choice

Solve the equation. $\frac { 3 } { 2 } \left( t - \frac { 2 } { 3 } \right) + 7 = \frac { t + 1 } { 3 } - 1$

• A) \(- \frac { 40 } { 7 }\)
• B) \(2\)
• C) \(- \frac { 36 } { 7 }\)
• D) \(\frac { 40 } { 7 }\)
• E) \(\frac { 7 } { 36 }\)

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Definitions:

Market Supply

The total amount of a product that sellers are willing and able to sell across all markets at a given price level over a specific time period.

Market Demand

The cumulative volume of a good or service that all buyers in a market are prepared and able to buy at a range of prices.

Decrease in Demand

This occurs when the quantity of a good or service that consumers are willing and able to purchase at a specific price level declines, due to factors such as changes in preference or income.

Long-Run Equilibrium

A state in which supply and demand are balanced, and all economic variables are at their natural levels, not influenced by external short-term fluctuations.