The Populations P (In Thousands)of Horry County,South Carolina from 1970 $P = - 13.5 + 92.2 e ^ { 0.0282 t }$

question 44

Multiple Choice

The populations P (in thousands) of Horry County,South Carolina from 1970 through 2007 can be modeled by $P = - 13.5 + 92.2 e ^ { 0.0282 t }$ where t represents the year,with $t = 0$ corresponding to 1970.Use the model to complete the table.Round your answer to two decimal places. $$\begin{array} { | l | l | l | l | l | l | } \hline \text { Year } & 1970 & 1980 & 1990 & 2000 & 2007 \\\hline \text { Population } & & & & & \\\hline\end{array}$$

• A) \[\begin{array} { | c | c | c | c | c | c | }
• \hline \text { Year } & 1970 & 1980 & 1990 & 2000 & 2007 \\
• \hline \text { Population } & 78.70 & 108.74 & 148.56 & 201.35 & 248.24 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | l | l | l | l | l | }
• \hline \text { Year } & 1970 & 1980 & 1990 & 2000 & 2007 \\
• \hline \text { Population } & 78.70 & 118.74 & 148.56 & 258.24 & 201.35 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | l | l | l | l | l | }
• \hline \text { Year } & 1970 & 1980 & 1990 & 2000 & 2007 \\
• \hline \text { Population } & 78.70 & 158.56 & 148.56 & 201.35 & 248.24 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | l | l | l | l | l | }
• \hline \text { Year } & 1970 & 1980 & 1990 & 2000 & 2007 \\
• \hline \text { Population } & 78.70 & 211.35 & 158.56 & 201.35 & 248.24 \\
• \hline
• \end{array}\]
• E) \[\begin{array} { | l | l | l | l | l | l | }
• \hline \text { Year } & 1970 & 1980 & 1990 & 2000 & 2007 \\
• \hline \text { Population } & 78.70 & 258.24 & 258.24 & 211.35 & 148.56 \\
• \hline
• \end{array}\]

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Definitions:

Shutdown Point

The level of output and price at which a firm's total revenue just covers its variable costs; below this point, the firm would cease production.

Maximizing Losses

Contrary to economic rationality, refers to theoretical actions or strategies that would lead to the greatest possible financial losses.

Diminishing Returns

A principle stating that as more investment is made in a particular resource, the marginal gain in output will eventually decrease.

Fixed Factor

Inputs in production that cannot be easily increased or decreased in the short term, such as buildings and land.