Suppose the Spread of an Oil Leak from a Tanker

question 6

Multiple Choice

Suppose the spread of an oil leak from a tanker can be approximated by a circle with the tanker at its center and radius r, in feet. The radius of the spill t hours after the beginning of the leak is given by Find the area of the spill after 3 h. Round to the nearest whole number.

• A) 38,708 ft²
• B) 38,785 ft²
• C) 12,321 ft²
• D) 1046 ft²
• E) 697 ft²

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Definitions:

Monopolistic Competitor

A firm that operates in a market structure characterized by many competitors selling differentiated products.

Perfect Competitor

A firm in a market structure where it takes the prevailing market price as given and decides its output level without being able to influence the market price.

Long Run

A period in economics during which all factors of production and costs are variable, and firms can enter or exit the industry.

Monopolistic Competitor

A market structure where many firms sell products that are similar but not identical, allowing for some degree of market power in setting prices.