Determine the Common Ratio, the Fifth, and The $n ^ { t h }$

question 20

Essay

Determine the common ratio, the fifth, and the $n ^ { t h }$ terms of the geometric sequence $2,1 , \frac { 1 } { 2 } , \frac { 1 } { 4 } , \ldots$ .

---

Definitions:

Short-run Supply Curve

Shows the relationship between the price of a good and the quantity supplied over a short period, when at least one input is fixed.

Minimum Point

The point at which a function reaches its smallest value, often used in the context of costs or optimization problems.

Short Run

A period of time during which at least one input of production is fixed, affecting the firm's ability to adjust production levels.

Variable Cost

A cost that depends on the quantity of output produced; the cost of a variable input.