Write the Word or Phrase That Best Completes Each Statement $\mathrm { A } ( \mathrm { t } ) = 100 \mathrm { e } ^ { 0.024 \mathrm { t } }$

question 441

Multiple Choice

Write the word or phrase that best completes each statement or answers the question.
-A certain country's Consumer Price Index is approximated by $\mathrm { A } ( \mathrm { t } ) = 100 \mathrm { e } ^ { 0.024 \mathrm { t } }$ , where $t$ represents the number of years. Use the function to determine the year in which costs will be $50 \%$ higher than in year 0 .

• A) year 19
• B) year 17
• C) year 13
• D) year 15

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Definitions:

Consumption Bundle

A collection or combination of various goods or services that an individual consumer purchases or consumes.

Slope

In mathematics, the slope of a line is a measure of its steepness, often calculated as the ratio of the vertical change to the horizontal change between two points on the line.

Indifference Curve

An indifference curve represents a graph showing different bundles of goods between which a consumer is indifferent, meaning they derive the same level of utility from each.

Midterm Grade

An evaluative score or assessment typically given to students halfway through a term to indicate their academic performance up to that point.