Provide an Appropriate Response

question 45

Multiple Choice

Provide an appropriate response.
-A community of rats begins with an initial population of 100 and grows 4% per month. Find the doubling time of the population. Round to the nearest month.

• A)23 months
• B)28 months
• C)14 months
• D)18 months

---

Definitions:

Inverse Demand Function

A mathematical function that expresses the price of a good or service as a function of the quantity demanded, illustrating how price can depend on demand.

Quantity Demanded

refers to the specific amount of a good or service that consumers are willing and able to buy at a given price over a certain period of time.

Price p

Represents a reference to a specific, but unspecified, price level in economic models, often used in theoretical contexts.

Inverse Demand Function

A mathematical representation that expresses the price of a good as a function of the quantity demanded, highlighting how price can be influenced by changes in demand.