Determine Whether the Recurrence Relation Is a Linear Homogeneous Recurrence $$a _ { n } = 0.7 a _ { n - 1 } - 0.3 a _ { n - 2 }$$

question 89

Short Answer

determine whether the recurrence relation is a linear homogeneous recurrence relation with constant coefficients.
- $$a _ { n } = 0.7 a _ { n - 1 } - 0.3 a _ { n - 2 }$$

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Definitions:

Marginal Product

The additional output that is produced by employing one more unit of a factor of production, keeping all other inputs constant.

Fourth Worker

In the context of diminishing returns, it could refer to a point where adding an additional worker leads to a lesser increase in output.

Marginal Productivity

The extra output that a business gains by adding one more unit of input, such as labor or capital.

Income Distribution

The way in which a country’s total GDP is spread amongst its population, affecting economic equity and quality of life.