Use $\log _ { 36 } 6 = 0.5000$ $\log _ { 36 } 4 \approx 0.3869$

question 158

Multiple Choice

Use $\log _ { 36 } 6 = 0.5000$ , $\log _ { 36 } 4 \approx 0.3869$ , and the properties of logarithms to approximate $\log _ { 36 } 144$ to four decimal places. Do not use a calculator.

• A) \(4.9678\)
• B) \(4.5967\)
• C) \(4.4506\)
• D) \(3.4434\)
• E) \(1.3869\)

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Definitions:

Productive Efficiency

A situation where an economy or a production entity cannot produce more of one good without sacrificing production of another good and by using the least costly production techniques.

Long-Run Adjustments

The process by which firms adjust their production levels, input mixes, and operations to reflect changes in the market or economic conditions over a longer period.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; in other words, every good or service is produced up to the point where the last unit provides a utility level equal to the cost of producing it.

Marginal Benefit

The incremental enjoyment or advantage received from the consumption or creation of one more unit of a good or service.