Determine the Sum of the Following Geometric Series: 1 $\frac { 1 } { \sqrt { 2 } }$

question 89

Short Answer

Determine the sum of the following geometric series: 1 + $\frac { 1 } { \sqrt { 2 } }$ + $\frac { 1 } { 2 }$ + ... .
Enter your answer exactly in the form $\frac { \sqrt { a } } { \sqrt { a } - b }$ .

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Definitions:

Reservation Price

The maximum price a consumer is willing to pay for a good or service, or the minimum price a seller is willing to accept.

Market Price

The current value at which a good or service can be bought or sold in a marketplace, determined by the forces of supply and demand.

Perfect Price Discrimination

Perfect price discrimination occurs when a seller charges every consumer the maximum they are willing to pay, capturing the entire consumer surplus as profit.

Marginal Revenue

The additional revenue that a company gains by selling one more unit of a product or service.