Answer: 6 plots
Step-by-step explanation:
Since the mayor uses one of the three acres for a playground, we now have 2 acres left. Since each plot is one third of an acre, we know we can fit three plots into each acre. We have two acres, so 3x2=6. We have 6 plots.
x = -14
-6(-14) + 6y = 42
84 + 6y = 42
subtract 84 from both sides: 6y = -42
divide by 6: y = -7
when x = -14, y = -7
Answer: Firm sets the price in a monopolistic competition.
Step-by-step explanation:
Monopolistic competition is the market structure in which there are large number of buyers and sellers and it produce differentiated products and there is free entry and exit of firms.
Since they sell differentiated products so, every firm has to set the price of their own products.
Hence, Firm sets the price in a monopolistic competition.
