MPP Linear Equations 3
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) If you solve the following system, what is the value of y? 3x + 2y = 26 1)
2x + 3y = 29
A) 3 B) 4 C) 5 D) 6 E) 7
2) Read this carefully. First solve the following system of equations. Then add the value of x to the 2)
value of y. 2x - 3y = 1
x + 5y = 7
The sum of x and y is
A) 6. B) 3. C) -4. D) 11. E) -11.
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.
3) Solve the following system of equations algebraically. (If the system does not have a 3)
solution, then say so or if it has more than one unique solution, then please describe the
4x + 10y = 6
4) Find the equilibrium point if the demand equation for a product is p = - 3 and the 4)
supply equation is p = .
5) Suppose the supply and demand equations for a manufacturer's product are p = q+6 5)
and p = - q + 14, respectively, where q represents number of units and p represents price
per unit in dollars. Determine (a) the equilibrium quantity; (b) the equilibrium price. If a
tax of $1.00 per unit is imposed on the manufacturer, (c) determine the new equilibrium
quantity; (d) the new equilibrium price.
6) A manufacturer sells his product at $12.50 per unit, selling all he produces. His fixed cost 6)
is $5,000 and his variable cost per unit is $8.50. (a) At what level of production will he
break even? (b) At what level of production will he have a profit of $10,000?
3) x = , y = 0
4) p = 1; q = 80
5) (a) 160 units (b) $10.80 (c) 140 (d) $11.20
6) (a) 1,250 units (b) 3,750