Change the Exponential Expression to an Equivalent Expression Involving a Logarithm

question 225

Multiple Choice

Change the exponential expression to an equivalent expression involving a logarithm.
- $$7 ^ { 3 } = x$$

• A) \(\log _ { 3 } x = 7\)
• B) \(\log _ { x } 7 = 3\)
• C) \(\log _ { 7 } x = 3\)
• D) \(\log _ { 7 } 3 = x\)

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Definitions:

Imperfectly Competitive

Describes a market structure where firms have some degree of market power and can influence prices, unlike in perfect competition.

Purely Competitive

A market structure characterized by a large number of small firms, homogenous products, and easy entry and exit, leading to firms being price takers.

Resource Demand Curve

A graphical representation showing the relationship between the price of a resource and the quantity of the resource demanded by employers.

Marginal Product

The additional output that results from using one more unit of a specific input, holding all other inputs constant.