Answer:
x = 3
Step-by-step explanation:
To find the x-coordinate, substitute y = 8 into the equation abd solve for x
5x - 7 = 8 ( add 7 to both sides )
5x = 15 ( divide both sides by 5 )
x = 3
Thus (3, 7) is a solution to the equation
This is the answer for the question
Answer:
We can deduce that the elasticity of the labor supply is greater than 1 the labor supply is considered elastic
Step-by-step explanation:
The formula to use is the following:
Elasticity = (Change in working hours / Average working hours) / (Change in wage rate / Average wage rate)
we replace the data
Elasticity = [(7 - 3) / (7 + 3) / 2] / [(50 - 30) / (50 + 30) / 2]
Elasticity = [4 / (10/2)] / [20 / (80/2)]
Elasticity = (4/5) / (20/40)
Elasticity = 0.8 / 0.5
OUTCOME
Elasticity = 1.6
We can deduce that the elasticity of the labor supply is greater than 1 the labor supply is considered elastic
Answer:
53.47
Step-by-step explanation:
yes, he can buy the backpack
88.95 x 0.40 = $35.48
88.95 minus 35.48 = 53.47
