Write the Series in Summation Notation $$8 + 16 + 24 + 32 + 40$$

question 37

Multiple Choice

Write the series in summation notation. $$8 + 16 + 24 + 32 + 40$$

• A) \(\sum _ { j = 1 } ^ { 5 } 8 j\)
• B) \(\sum _ { j = 1 } ^ { 5 } 8 ^ { j }\)
• C) \(\sum _ { j = 1 } ^ { 5 } 8 + j\)
• D) \(\sum _ { j = 1 } ^ { 5 } j ^ { 8 }\)

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Definitions:

Firms

Business entities that produce goods or provide services, aiming to earn profits by meeting consumer needs.

Costs

Costs represent the monetary value of expenditures for inputs, labor, and other resources required to produce goods or services.

Purely Competitive Conditions

describes a market structure with many buyers and sellers, where each firm has no control over the market price and products are homogeneous.

Equilibrium

A state in which market demand is equal to market supply, with no external forces causing disruption, leading to a stable price and quantity.