A Painting Is Purchased as an Investment for $110

question 189

Multiple Choice

A painting is purchased as an investment for $110. If its value increases continuously so that it doubles every 3 years, then its value is given by the function where t is the number of years since the painting was purchased, and V ( t ) is its value (in dollars) at time t . Find V (3) .

• A) $270
• B) $200
• C) $660
• D) $880
• E) $220

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Definitions:

U.S. Market

This term refers to the economic market in the United States encompassing the trading of goods, services, securities and commodities.

Comparative Advantage

The ability of a country or firm to produce a particular good or service at a lower opportunity cost than others.

Domestic Price

The price level of goods and services within a country's border, reflecting the domestic market's supply and demand conditions.