Write a Formula for the General Term, or Nth Term $$\frac { 1 } { 9 } , \frac { 8 } { 9 } , \frac { 64 } { 9 } , \frac { 512 } { 9 } , \ldots$$

question 113

Multiple Choice

Write a formula for the general term, or nth term, for the given sequence.
- $$\frac { 1 } { 9 } , \frac { 8 } { 9 } , \frac { 64 } { 9 } , \frac { 512 } { 9 } , \ldots$$

• A) \(a _ { n } = \frac { 8 n } { 9 }\)
• B) \(a _ { n } = \frac { 8 n - 8 } { 9 }\)
• C) \(a _ { n } = \frac { 8 ^ { n - 1 } } { 9 }\)
• D) \(a _ { n } = \frac { 8 ^ { n } - 1 } { 9 }\)

Explain how marginal revenue and marginal cost influence a firm's production decisions to maximize profit.

Determine the conditions under which firms will enter or exit a competitive market.

Identify the role of market price in a competitive price-taker firm's decision-making process regarding output levels.

Understand the concept of price being driven to minimum average total cost in competitive markets due to characteristics like free entry and exit.

---

Definitions:

Scientific Management

A management theory that emphasizes efficiency and productivity through the scientific study of work methods and worker productivity.

Frederick Taylor

An American engineer and management consultant considered the father of scientific management, focusing on improving industrial efficiency.

Telecommuting

A work arrangement that allows employees to work outside the traditional office environment, typically from home, based on the use of technology for communication.

Work Patterns

The habitual ways in which work is organized, scheduled, and performed within a society or organization.