Solve the Problem $\ln ( 1 - \mathrm { P } ) = - 0.0025 - 0.0058 \mathrm { x }$

question 20

Multiple Choice

Solve the problem.
-Suppose the government wants to impose a tax on fossil fuels to reduce carbon emissions. The cost benefit is modeled by $\ln ( 1 - \mathrm { P } ) = - 0.0025 - 0.0058 \mathrm { x }$ , where $x$ represents the dollars of tax per ton of carbon emitted and $\mathrm { P }$ represents the percent reduction in emissions of carbon. ( $\mathrm { P }$ is in decimal form.) Determine $\mathrm { P }$ when $\mathrm { x } = 70$ . Round to three decimal places.

• A) \(- 0.17\)
• B) \(- 0.332\)
• C) \(1.665\)
• D) \(0.335\)

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Definitions:

Losing Sales

The phenomenon of experiencing a decrease in the number of sales transactions or revenue, often as a result of competition, market shifts, or other external factors.

Seasonal Inventory

Goods or materials stocked in anticipation of seasonal demand variations.

Production System

A system that encompasses all activities required to create a product or service, from raw materials procurement to final output.

Low Demand

A situation characterized by a reduced desire or need for products or services in the market.