Solve the Problem A) Maximum Amount of Water After 5

question 1

Multiple Choice

Solve the problem.
-The amount of water (in gallons) in a leaky bathtub is given in the table below. Using a graphing utility, fit the data to a third degree polynomial (or a cubic) . Then approximate the time at which there is maximum amount
Of water in the tub, and estimate the time when the water runs out of the tub. Express all your answers rounded
To two decimal places. $$\begin{array} { c | c c c c c c c c } \mathrm { t } \text { (in minutes) } & 0 & 1 & 2 & 3 & 4 & 5 & 6 & 7 \\\hline \mathrm { V } \text { ( in gallons) } & 20 & 26 & 45 & 63 & 86 & 94 & 90 & 67\end{array}$$

• A) maximum amount of water after 5.37 minutes; water runs out after 11.06 minutes
• B) maximum amount of water after 8.23 minutes; water runs out after 19.73 minutes
• C) maximum amount of water after 5.31 minutes; water runs out after 8.23 minutes
• D) maximum amount of water after 5.31 minutes; water never runs out

Explain the free-rider problem and how it influences the provision of public goods.

Recognize the inefficiencies in resource allocation associated with common resources and public goods.

Understand how the private market's response to nonexcludable and nonrival goods leads to market failure.

Analyze the role of government intervention in correcting market failures related to public goods and common resources.

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Definitions:

Biomass Fuels

Renewable energy derived from organic materials such as wood, waste, and alcohol fuels used for generating electricity or producing heat.

R-value

A measure of thermal resistance, indicating the effectiveness of insulation materials in preventing heat transfer.

Canadian Government

The federal administration of Canada which operates under a parliamentary system within a constitutional monarchy.

Kilometres Per Litre

A measure of a vehicle's fuel efficiency, indicating how many kilometres the vehicle can travel on one litre of fuel.