Answer:
Step-by-step explanation:
Well, since there is no image I thought I would provide what a rectangle would probably look like in your case. The rectangle can be split into half parts 4 ways.
<h2><em><u>Ways it can be Split:</u></em></h2>
1. We can split it the hotdog way, or staright down the rectangle (drawing provided down below)
2. We can split it the Hamburger way, again drawing is provided.
3. We can split it from the top-left corner to the bottom-right, and the opposite way around.
The amount that Edgar borrowed from the bank is $5,000. From his mom is $2,600 while from his friend is $2,400. This can be checked using the total interest of $624.
Bank: $5,000 x 0.07 = $350
Mom: $2,600 x 0.05 = $130
Friend: $2,400 x 0.06 = $144
Adding all three results to $624.
Answer: The equilibrium point represents the raising or lowering the price in response to changes in the supply or demand.
If the price of a good is above equilibrium, this means that the quantity of the good supplied exceeds the quantity of the good demanded.
If the quantity is below the equilibrium point, it will create a shortage. because the quantity supplied is less than quantity demanded.
Hope this helps!
Step-by-step explanation:
