What Will Be the Approximate Population of the United States,if

question 7

Multiple Choice

What will be the approximate population of the United States,if its current population of 300 million grows at a compound rate of 2% annually for 25 years?

• A) 413 million
• B) 430 million
• C) 488 million
• D) 492 million

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Definitions:

Economic Profits

The difference between a firm’s total revenue and its total costs, including both explicit and implicit costs.

Exiting

The process of leaving or withdrawing from a particular situation, status, or location, often used in the context of businesses or markets.

Perfectly Competitive Market

A market structure characterized by infinite buyers and sellers, freedom of entry and exit, and perfect information, where no single entity can influence the market price.

Unique Goods

Products or services that are distinctive due to their rarity, design, or attributes, making them unlike any other in the market.