Describe Each Sequence Recursively

question 83

Short Answer

describe each sequence recursively. Include initial conditions and assume that the sequences begin with a₁.
-a_n = the number of ways to go down an n-step staircase if you go down 1, 2, or 3 steps at a time

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Definitions:

Perfectly Inelastic

Describes a situation where the demand or supply for a good or service does not change in response to price changes.

Price Elasticity

An evaluation of how the requested quantity of a merchandise alters in response to price adjustments.

Perfectly Inelastic

A market condition where the quantity demanded does not change as the price changes.

Price Elasticity

A measure of how sensitive the quantity demanded of a good is to a change in its price.