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SIZIF [17.4K]
3 years ago
6

#16 What is the name for an economic system in which private businesses run most industries?

History
1 answer:
KIM [24]3 years ago
8 0

Answer:

Laissez-fair

Explanation:

Laissez fair believe that economy works best when there is zero interference of government in business and trade

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A carpenter purchased 70 ft of redwood and 80 ft of pine for a total cost of $351. A second purchase, at the same prices, includ
notsponge [240]

Hey there!!


Let us take the cost of 1 feet redwood as ' x '


Let us take the cost of 1 feet pine as ' y '


For the first scenario :


70 ft red wood and 80 ft pine


1 feet redwood - $x


70 feet redwood - $70x


1 feet pine - $y


80 feet pine - $80y


Total = $351


70x + 80y = 351 --------------------------------- ( 1 )  


Second scenario :


1 feet redwood - $x


100 feet redwood - $100x


1 feet pine - $y


60 feet pine - $60y


total - $420


100x + 60y = 420 ----------------------- ( 2 )


Now let us get both the equations together :


70x + 80y = 351 ------------- ( 1 )


100x + 60y = 420 ------------- ( 2 )


Now let us multiply the  the 1st equation with 3 and the 2nd equation with 4


3 ( 70x + 80y ) = 3 ( 351 )


4 ( 100x + 60y ) = 4 ( 420 )


............................


210x + 240y = 1053


400x +  240y = 1680


...........................


Now let us subtract the first equation from the second ...


400x + 240y = 1680


- ( 210x + 240y ) = - ( 1053 )


......................


190x = 627


dividing by 160 on both sides


x = 627 / 190


x = 3.3


The cost for 1 feet or per foot for the redwood is $3.3


Now substitute the value of x in any given given equation and find out y


I will substitute in the 1st equation


70x + 80y = 351


70 ( 3.3 ) + 80y = 351


231 + 80y = 351


Subtracting by 231 on both sides


80y = 351 - 231


80y = 120


dividing by 80 on both sides


y = 120 / 80


y = 1.5


The cost for 1 feet or per foot for the pine = $1.5


The answers - $3.3 ( redwood ) ; $1.5 ( pine )


Hope my answer helps!


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Explanation:

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