Use the Formula for the General Term (The Nth Term)

question 11

Multiple Choice

Use the formula for the general term (the nth term) of an arithmetic sequence to find the indicated term of the sequence with the given first term, a1, and common difference, d.
-Find a₁₄ when a₁ = 23, d = -3.

• A) -39
• B) -19
• C) 62
• D) -16

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Definitions:

Marginal Product Data

Information that shows how the addition of a single unit of a factor of production, such as labor or capital, affects total output.

Competitive Market

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a product for which each supplier's offerings are perfectly substitutable by the consumers.

Profit-Maximizing Rule

A principle stating that firms achieve maximum profit when they produce goods or services to the point where marginal cost equals marginal revenue.

Cost-Minimization Rule

A principle in economics that suggests a firm should produce any given output at the lowest possible cost.