Find the Function Value $$f ( x ) = \left( \frac { 1 } { 2 } \right) ^ { x }$$

question 9

Multiple Choice

Find the function value. If the result is irrational, round your answer to the nearest thousandth.
- $$f ( x ) = \left( \frac { 1 } { 2 } \right) ^ { x }$$

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Definitions:

Per Capita Income

The average income earned per person in a certain area, calculated by dividing the area's total income by its total population.

Price Elasticity

A metric that reflects the degree to which the demand for a product changes in response to alterations in its price, indicating consumer sensitivity to price fluctuations.

Marginal Cost

The cost of producing an additional unit of output, which is an important factor in economic decision making.

Profit-maximizing Price

The price that results in the maximum possible profit for a firm, based on its cost structure and demand for its products.