A Population of Rabbits Is Growing

question 80

Short Answer

A population of rabbits is growing. In 2005, there were 10,000,000 rabbits, and the population was increasing at a rate of 20% per decade. What is the predicted rabbit population in 2016? Round to the nearest rabbit.

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Definitions:

Short Run

A period in economics during which some factors of production are fixed, making it impossible to change the level of output quickly.

Long Run

A period in which all factors of production and costs are variable, allowing for full adjustment to changes.

Expand

To increase in size, number, or scope, such as a business growing its operations or a market increasing its reach.

Internal Economies

Cost-saving measures that arise from the expansion of a firm, affecting the production process internally.