The Number of Patents Issued for a Certain Product Between

question 10

Multiple Choice

The number of patents issued for a certain product between 1950 and 1970 was increasing with respect to time at a rate jointly proportional to the number of patents already obtained and to the difference between the number of patents already obtained and the carrying capacity of the system. The carrying capacity was approximately 5000 patents, and the constant of proportionality was about 0.0003. By 1960, 2000 patents had been obtained. Write a differential equation describing the rate of change in the number of patents with respect to the number of years since 1950.

• A) patents per year
• B) patents per year
• C) patents per year
• D) patents per year
• E) patents per year

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Definitions:

Surety

A person or entity that takes responsibility for another's performance of an undertaking, such as fulfilling a contract or making a payment.

Conditional Guarantors

Parties that agree to fulfill the obligations of a defaulting party under certain conditions specified in the agreement.

Cosureties

Cosureties are multiple parties that collectively agree to be surety, sharing the liability and responsibility for fulfilling the principal's obligations.

Absolute Sureties

Individuals or entities that guarantee the performance of a debtor or contractual obligations without any conditions.