Answer:
3.8 is the answer plus using a calculator could have helped you too
Answer:
C. There are no shortages or surpluses
Step-by-step explanation:
When an economy is in equilibrium it means that supply meets demand at a specific price and the market clears. If there is a surplus/shortage in supply or demand then there is no equilibrium and the market will not clear.
- surplus = excess supply
- shortage = excess demand
In the presence of a surplus or a shortage there is no equilibrium.
A. No: Demand from customers refers to whether they are willing and able to purchase, one cannot measure if they have "enough" of a good through the equilibrium measure.
B: No: If supply is greater than demand there is excess supply and thus a surplus in the market, therefore not in equilibrium.
D: No: Equilibrium is simply the balance between supply and demand. Even if an equilibrium is efficient, it does not necessarily follow that the allocation and use of resources is efficient as well.
The answer is D because both of those answer choices can be proved by looking at the triangle
Answer:
1.
where
represents the total number of people.
2.
where
represents the total number of people.
3.
where
represents the cost of a pair of jeans.
4.
where
represents the total number of people.
Step-by-step explanation:
Question 1 explanation: Since no more than 10 people are allowed in the elevator, that means 10 and under are allowed, so the inequality would be
.
Question 2 explanation: Since the tour bus needs at least 8 people to sign up to run, that means 8 and more people will allow the tour bus to run, so the inequality would be 
Question 3 explanation: Since the most you will pay for a pair of jeans is $60, that means jeans costing $60 and under are fine, so the inequality would be
.
Question 4 explanation: Since over 20 people showed up to the party, that means there were more than 20 people at the party, so the inequality would be
.