B is the correct response to that question.
To start with,
Let x signify the balance in the first savings account.
Let y signify the balance in the second savings account.
The combined total in the accounts is $9,000, leading to the equation:
x + y = 9000 (1)
Zack withdrew 10% from account x and 60% from account y, totaling $2,175.
Thus,
0.1x + 0.6y = 2175
or
x + 6y = 21750 (2)
To find y, subtract equation (1) from (2):
x + 6y - (x + y) = 21750 - 9000
5y = 12750
y = 2550
Next, from (1), compute:
x = 9000 - 2550 = 6450
Consequently, the balance in the first account is
0.9*x = 0.9*6450 = $5,805, while the balance remaining in the second account is
0.4*y = 0.4*2550 = $1,020.
Final answer:
The balance in the first account is $5,805 and the balance in the second account is $1,020.
Answer:
Monopolistic competition.
Explanation:
This market structure known as monopolistic competition arises when multiple businesses provide similar products that cannot be seen as perfect substitutes for one another. In this setting, numerous sellers vie for a superior market position within a specific product or industry. This form of monopolistic competition features unrestricted entry for new firms, heightening the level of competition as companies strive for consumer preference.
