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A program to protect a species of endangered bird is to be phased out by the year 2020. An environmental group has projected the rate of change in the bird population between 2000 and 2020 as shown in the figure below. Given that projection, what will a graph of the bird population between 2000 and 2050 look like, using the the following information:
At the beginning of 2000 there were 1.1 million birds in existence.
The species will be extinct by 2050.
Variable Factor
In economics, it refers to any input whose quantity can be changed in the short term to affect production levels.
Increasing Returns to Scale
A situation in which output increases by a greater proportion than the increase in inputs used.
Average Costs
The total cost of production divided by the total quantity produced, reflecting the cost per unit of output.
Isocost Line
A graph representing all combinations of inputs that have the same total cost.
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