Express the Sum Using Summation Notation $\sum _ { k = 1 } ^ { 4 } \left( - \frac { 1 } { 4 } \right) ^ { k }$

question 91

Multiple Choice

Express the sum using summation notation.
- $\sum _ { k = 1 } ^ { 4 } \left( - \frac { 1 } { 4 } \right) ^ { k }$

• A) \(= \frac { 47 } { 256 }\)
• B) \(- \frac { 51 } { 256 }\)
• C) \(\frac { 51 } { 256 }\)
• D) \(\frac { 85 } { 256 }\)

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Definitions:

Wage Rate

A set amount of money given by an employer to an employee for services rendered, usually specified on an hourly or annual basis.

Purely Competitive

A market structure characterized by many buyers and sellers, free entry and exit, and a product so standard that no one controls the market price.

Imperfectly Competitive

A market structure characterized by a few dominant firms that have control over prices and high barriers to entry, limiting perfect competition.

Marginal Product

The increase in output that results from a one-unit increase in the quantity of a single input, keeping all other inputs constant.