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Scientists often use a process called carbon dating to estimate the age of archaeological finds. The process measures the amount of carbon-14, a radioactive isotope with a half-life of 5,730 years. If a sample of wood from an ancient artifact had 15 grams of carbon- 14 initially, the amount remaining, in grams, is given by
where t is the number of years since the tree died. How many grams would be present after 5,730 years?
Income Effect
The change in an individual's consumption resulting from a change in real income, impacting purchasing power and spending habits.
Substitution Effect
occurs when consumers replace more expensive items with less costly alternatives as their relative prices change.
Diminishing Marginal Utility
A concept in economics stating that as a person increases consumption of a product, there is a decline in the marginal utility (satisfaction or benefit) that person derives from consuming each additional unit of that product.
Calorie Counts
The measurement of energy provided by food and drink, important for managing dietary health and weight control.
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