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A Local Pond Can Only Hold Up to 43 Geese dPdt=(0.0015)(43P)P\frac { \mathrm { dP } } { \mathrm { dt } } = ( 0.0015 ) ( 43 - \mathrm { P } ) \mathrm { P }

question 28

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A local pond can only hold up to 43 geese. Eight geese are introduced into the pond. Assume that the rate of growth of the population is dPdt=(0.0015) (43P) P\frac { \mathrm { dP } } { \mathrm { dt } } = ( 0.0015 ) ( 43 - \mathrm { P } ) \mathrm { P } where t is time in weeks. How long will it take for the goose population to be 24?

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Definitions:

Pure Rate of Interest

The rate of return on a risk-free investment, theoretically excluding the effects of inflation, default risk, and other factors.

Residual Claimants

Individuals or entities entitled to a share of an organization’s income only after all other claims, such as debts and taxes, have been satisfied.

Interest Rate

The cost of borrowing money, typically expressed as a percentage of the amount borrowed, paid to the lender.

MB = MC Rule

A principle in economics that states the optimal level of an activity is reached when the marginal benefit (MB) is equal to the marginal cost (MC).

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