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Use the fact that the quantity of a radioactive substance after t years is given by , where is the original amount of radioactive material and k is its half-life (the number of years it takes for half the radioactive substance to decay) .
The half-life of carbon-14 is 5600 years. Find the amount of carbon-14 remaining after 11,500 years if Round your answer to four decimal places if required.
Extra Income Effect
The change in an individual's consumption choices resulting from a change in real income, due to factors other than a direct income increase.
Endowment
The total resources available to an individual or entity, which can include wealth, assets, or resources in an economic context.
Normal Good
A type of good for which demand increases as the income of individuals increases, holding everything else constant.
Wage Rate
The standard amount of compensation given to employees for services rendered, usually expressed per hour or year.
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