Find the Common Ratio R for the Given Infinite Geometric

question 298

Multiple Choice

Find the common ratio r for the given infinite geometric sequence.
-The beginning population of a small town was 13,000 people. Due to decline in industrial growth the population has since been decreasing at a rate of 5% every year. What was the population of
This town 10 years later?

• A) 7784 people
• B) 6292 people
• C) 7002 people
• D) 8643 people

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Definitions:

Market

A setting where buyers and sellers come together to exchange goods, services, or information.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, reflecting gains above production costs.

Sellers' Costs

The expenses incurred by sellers in producing or procuring goods for sale, including materials, labor, and overhead costs.