The Number of Gallons of Water Remaining in a Pool

question 301

Multiple Choice

The number of gallons of water remaining in a pool t hours after it began to drain is illustrated in the table below. Which one of the following models this data?

• A) N = 1750 350 t
• B) N = 22500 + 1750 t
• C) N = 22500 + 350 t
• D) N = 22500 350 t
• E) N = 22500 1750 t

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Definitions:

Absolute Price

The price of a good or service without taking inflation or purchasing power into account.

Indifference Curves

A graph showing different bundles of goods between which a consumer is indifferent, pointing out the preferences of the consumer for one combination of goods over another.

Bowed Inward

A description often used in economics to illustrate a production possibility frontier that indicates increasing opportunity costs for producing goods.

Budget Constraint

The limit on the consumption bundles that a consumer can afford to purchase based on their income and the prices of goods and services.