The Table Gives the Population of the United States, in Millions

question 40

Multiple Choice

The table gives the population of the United States, in millions, for the years 1900 - 2000. Use a graphing calculator with exponential regression capability to model the U.S. population since 1900. Use the model to estimate the population in 1965 and to predict the population in the year 2025.
$\begin{array}{|c|c|c|c|c|c|c|c|c|c|c|c|}\hline \text { Year } & 1900 & 1910 & 1920 & 1930 & 1940 & 1950 & 1960 & 1970 & 1980 & 1990 & 2000 \\\hline \begin{array}{c}\text { Population } \\\text { (millions) }\end{array} & 76 & 92 & 106 & 123 & 131 & 150 & 179 & 203 & 227 & 250 & 281 \\\hline\end{array}$

• A) 186 million, 402 million
• B) 191 million, 407 million
• C) 196 million, 412 million
• D) 181 million, 397 million
• E) 176 million, 392 million

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Definitions:

Monopoly Firms

Companies that are the sole provider of a product or service in a market, having exclusive control over supply and market competition.

Profit Maximization

The process by which a firm determines the price and output level that returns the greatest profit, considering its cost structure and the market demand.

Purely Competitive

A market structure characterized by a large number of small firms, identical products, easy entry and exit, and perfect information, leading to price taking behavior.

Market Price

The price at which a good or service is offered in the marketplace where demand meets supply.