In September 1998 the Population of the Country of West $f ( x ) = 17.8 e ^ { 0.0015 x }$

question 108

Multiple Choice

In September 1998 the population of the country of West Goma in millions was modeled by $f ( x ) = 17.8 e ^ { 0.0015 x }$ . At the same time the population of East Goma in millions was modeled by $g ( x ) = 13.2 e ^ { 0.0164 x }$ . In both formulas $x$ is the year, where $x = 0$ corresponds to September 1998. Assuming these trends continue, estimate what the population will be when the populations are equal.

• A) 18 million
• B) 1 million
• C) 16 million
• D) 17 million

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Definitions:

Equilibrium Quantity

The amount of products or services available meets the amount that consumers want to buy at the price point where supply and demand balance.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials used as a primary energy source.

Gasoline Prices

The cost per unit volume of gasoline, often subject to fluctuations due to factors such as crude oil prices, taxes, and supply and demand.

Invisible Hand

A metaphor introduced by Adam Smith to describe the unintended social benefits resulting from individual actions when seeking personal gain.