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Unformatted text preview: 2. Solve the following two equation system for the two unknowns x and y: x + y = 100 and y – x = 20. Graph your answer, and be sure to label any points of intersection with lines or axes. 3. You are given two economic relationships between price (P) and quantity (Q): the first is P = 100 – Q. The second is P = 1800/Q + 10. What values of P and Q simultaneously satisfy these equaltions? Graph your answer, and be sure to label any interesting points. (Hint: you may wish to use the quadratic formula.)...
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This note was uploaded on 02/01/2008 for the course ECON 2302 taught by Professor Mcfarlin during the Spring '06 term at University of Texas at Dallas, Richardson.
- Spring '06