Use Simpson's Rule to Approximate with N = 4

question 245

Multiple Choice

Use Simpson's Rule to approximate with n = 4. Round your answer to 3 decimal places. ​

• A) 0.562
• B) 0.066
• C) 1.617
• D) 0.733
• E) 2.123

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Definitions:

Marginal Product

The additional output resulting from the use of one more unit of a production factor.

Factor Of Production

An economic term describing the inputs used in the production of goods or services to earn an income, namely labor, capital, land, and entrepreneurship.

Marginal Productivity Theory

A theory stating that the demand for a factor of production is derived from the marginal product that the factor adds to the output.

Equilibrium Value

The price and quantity at which supply and demand in a market are balanced.