Find the Sum of the First 4 Terms of the Geometric

question 296

Multiple Choice

Find the sum of the first 4 terms of the geometric sequence whose second and fifth terms are 20 and
1280.

• A) 85
• B) 1705
• C) 425
• D) 105
• E) 84

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Definitions:

Perfect Competition

An economic model describing a market where no buyer or seller has the market power to influence prices, characterized by many participants and free entry and exit.

Profit Maximization

The process or strategy undertaken by a firm to generate the maximum possible profits with the available resources and market conditions.

Short-run Equilibrium

Describes a situation in a market where supply equals demand within a short period, without enough time for all factors of production to adjust.

Monopoly

A market structure characterized by a single seller, selling a unique product in the market.