Solve the Problem $\mathrm { P } ( \mathrm { n } ) = 700 ( 0.5 ) ^ { 0.6 \mathrm { n } }$

question 37

Multiple Choice

Solve the problem.
-The amount of particulate matter left in solution during a filtering process decreases by the equation $\mathrm { P } ( \mathrm { n } ) = 700 ( 0.5 ) ^ { 0.6 \mathrm { n } }$ , where $\mathrm { n }$ is the number of filtering steps. Find the amounts left for $\mathrm { n } = 0$ and $\mathrm { n } = 5$ . (Round to the nearest whole number.)

• A) \(700 ; 22\)
• B) \(700 ; 88\)
• C) \(1400 ; 88\)
• D) \(700 ; 5600\)

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Definitions:

Behavioral Economics

A field of economics that examines how psychological, cognitive, emotional, cultural, and social factors affect economic decisions.

Utility

A measure of satisfaction or happiness that a consumer derives from consuming goods or services.

Disutility

The negative utility or dissatisfaction experienced by consumers from consuming a good or engaging in an activity.

Marginal Disutility

The added dissatisfaction a consumer experiences from consuming an additional unit of a product or service.