Express the Sum Using Summation Notation $$( a + 1 ) + ( a + b ) + \left( a + b ^ { 2 } \right) + \ldots + \left( a + b ^ { n } \right)$$

question 105

Multiple Choice

Express the sum using summation notation. Use a lower limit of summation, not necessarily 1, and k for the index of summation.
- $$( a + 1 ) + ( a + b ) + \left( a + b ^ { 2 } \right) + \ldots + \left( a + b ^ { n } \right)$$

• A) \(\sum _ { k = 1 } ^ { n } \left( a + b ^ { k } \right)\)
• B) \(\sum _ { k = 0 } ^ { n - 1 } \left( a + b ^ { k } \right)\)
• C) \(\sum _ { k = 0 } ^ { n } \left( a + b ^ { k } \right)\)
• D) \(\sum _ { k = 0 } ^ { n } a b ^ { k }\)

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Definitions:

Oligopoly

A market structure characterized by a small number of firms that have significant control over market prices and competition levels.

Barriers To Entry

Obstacles or hindrances that make it difficult for new competitors to enter a market or industry.

Herfindahl Index

A measure of market concentration that squares the market share of each firm competing in the market and sums the resulting numbers.

Oligopolistic Industry

A market structure characterized by a small number of large firms dominating the industry, leading to limited competition.