A Population Growing at an Annual Rate R Will Triple

question 147

Multiple Choice

A population growing at an annual rate r will triple in a time t given by the formula . If the growth rate remains constant and equals 15% per year, how long will it take the population of the town to triple?

• A) 8.1 years
• B) 3.2 years
• C) 2.7 years
• D) 7.3 years
• E) 1.2 years

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Definitions:

Cotton Farming

The agricultural practice of cultivating cotton plants for their fibers, which are used in textile production.

Differentiated Oligopoly

A market structure in which a few companies dominate the market and sell products that are different but closely related, often with marketing brands, designs, or functionalities.

Homogeneous Oligopoly

A market structure characterized by a few companies that sell identical or very similar products, leading to strategic behavior among competitors.

Automobile Industry

A sector that encompasses companies involved in the design, manufacture, marketing, and selling of motor vehicles.