With Data for 1990 to 2002, the Total Receipts for World

question 112

Multiple Choice

With data for 1990 to 2002, the total receipts for world tourism (in billions of dollars per year) can be modeled by the function where represents 1985. Find the predicted total receipts for world tourism for the decade from 2011 to 2021. Round your answer to one decimal place. ​

• A)$4,942.1 billion
• B)$17,546.4 billion
• C)$7,164.4 billion
• D)$10,754.3 billion
• E)$14,147.4 billion

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Definitions:

Hidden Characteristic

In economics and contract theory, a hidden characteristic refers to information about a product, service, or individual that is not known beforehand by one of the parties in a transaction, potentially leading to problems like adverse selection.

Asymmetric Information

A situation where one party in a transaction has more or superior information compared to another.

Car Insurance

A contract between a vehicle owner and an insurance company, providing financial protection against physical damage or bodily injury from traffic collisions.

Asymmetric Information

An instance where in a transaction, one entity has higher or more detailed information than another.