Solve. -The Population of a Particular City Is Increasing at a a Rate

question 123

Multiple Choice

Solve.
-The population of a particular city is increasing at a rate proportional to its size. It follows the function t where k is a constant and t is the time in years. If the current population is 42,000, in how many years is the population expected to be 105,000? (Round to the nearest year.)

• A) 93 yr
• B) 13 yr
• C) 6 yr
• D) 7 yr

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Definitions:

Cost-Plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's cost.

Multiproduct Pricing

Pricing strategies adopted by companies that sell multiple products and seek to maximize overall profits by considering cross-product price elasticity and cost structures.

Price Leadership

A situation where one dominant firm in an industry sets the price of goods or services, and other firms follow suit.

OPEC

The Organization of the Petroleum Exporting Countries, an international cartel that aims to manage the supply of oil in an effort to set the price of oil on the world market.