Given Are the First Three Terms of a Sequence That $\frac { 3 } { 1 } , \frac { 3 } { 4 } , \frac { 3 } { 16 }$

question 190

Multiple Choice

Given are the first three terms of a sequence that is geometric. Find a1 and r.
- $\frac { 3 } { 1 } , \frac { 3 } { 4 } , \frac { 3 } { 16 }$

• A) \(a _ { 1 } = \frac { 3 } { 1 } ; r = \frac { 1 } { 10 }\)
• B) \(\mathrm { a } _ { 1 } = \frac { 3 } { 1 } ; \mathrm { r } = \frac { 1 } { 4 }\)
• C) \(a _ { 1 } = \frac { 3 } { 1 } ; r = 4\)
• D) \(\mathrm { a } _ { 1 } = \frac { 3 } { 1 } ; \mathrm { r } = 10\)

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Definitions:

Producer Surplus

The disparity between the price that producers are ready to accept for a product or service and the price they actually obtain.

Equilibrium Price

The cost where the amount of a product or service consumers want to buy matches the quantity that producers are willing to sell.

Equilibrium Quantity

The amount of goods or services available matches the amount requested at the market price.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.