A Painting Is Purchased as an Investment for $200

question 24

Short Answer

A painting is purchased as an investment for $200. If the painting s value doubles every 3 years, then its value is given by the function where t is the number of years since it was purchased, and V ( t ) is its value (in dollars) at that time. How many years must pass before the painting is worth $3,200? __________ years

---

Definitions:

Revenue

The sum of earnings from selling goods or providing services which are fundamental to a company's core business activities.

Profit-Maximizes

The procedure an enterprise employs to find the optimal price and output level for maximum profit.

Long Run Adjustment

The process through which firms adjust their levels of production, capital, and other inputs to reach a new equilibrium in response to changes in market conditions over time.

Organic

Refers to products, especially food or farming methods, that are produced or conducted without the use of synthetic chemicals, fertilizers, or genetically modified organisms.