Solve the Problem $\$ 3500$ The First Year He Worked $\$ 500$

question 315

Multiple Choice

Solve the problem.
-A man earned $\$ 3500$ the first year he worked. If he received a raise of $\$ 500$ at the end of each year, what was his salary during the 15 th year?

• A) \(\$ 11,000\)
• B) \(\$ 7000\)
• C) \(\$ 10,500\)
• D) None of these

---

Definitions:

Perfectly Competitive Market

A market structure characterized by many sellers and buyers, homogeneous products, and the free entry and exit of firms, leading to efficient outcome prices.

Society

A group of individuals living together in a more or less ordered community, often sharing common cultural and social norms.

Public Park

An area of natural, semi-natural, or planted space set aside for human enjoyment and recreation or for the protection of wildlife or natural habitats.

Merchants

Merchants are individuals or businesses engaged in the commercial trading of goods and services, often acting as intermediaries between producers and consumers.