Answer:

A person who holds a master's degree would earn an average $63,000

A person who holds a bachelor's only would earn an average $53,000

Step-by-step explanation:

We will need to construct equations from the sentences.

Firstly, let the yearly average for a master's degree holder be m and that of bachelor's be b.

Now, we know that someone with a master's earn 43000 less than twice what someone with bachelors earn.

Mathematically,

m = 2b - 43,000

Combined, they have an average salary of 116,000

Mathematically,

m + b = 116,000

Now we have 2 equations to solve simultaneously.

m = 2b - 43,000 ......(i)

m + b = 116,000 .......(ii)

We can sub I into ii

2b - 43,000 + b = 116,000

2b+b = 116,000 + 43,000

3b = 159,000

b = 159,000/3 = 53,000

m = 2b - 43,000

m = 2(53,000) - 43,000 = 63,000