Write the Word or Phrase That Best Completes Each Statement $1700 - 1780$

question 463

Essay

Write the word or phrase that best completes each statement or answers the question.
-The population (in hundred thousands) for the Colonial United States in ten-year increments for the years $1700 - 1780$ is given in the table. (Source: 1998 Information Please Almanac) State whether the data can be more accurately modeled using an exponential function or a logarithmic function. Using a
graphing utility, find a model for population (in hundred thousands) as a function of decades since 1700.

---

Definitions:

Bushels Supplied

Bushels Supplied refers to the quantity of agricultural products, measured in bushels, that producers are willing to sell at a given price.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level, in a given time period.

Market Price

The present rate at which a service or asset is available for sale or purchase in the open market.

Equilibrium Level

The state at which market supply and demand balance each other, resulting in stable prices and quantities.