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Section exercises

Verbal

With what kind of exponential model would half-life be associated? What role does half-life play in these models?

Half-life is a measure of decay and is thus associated with exponential decay models. The half-life of a substance or quantity is the amount of time it takes for half of the initial amount of that substance or quantity to decay.

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What is carbon dating? Why does it work? Give an example in which carbon dating would be useful.

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With what kind of exponential model would doubling time be associated? What role does doubling time play in these models?

Doubling time is a measure of growth and is thus associated with exponential growth models. The doubling time of a substance or quantity is the amount of time it takes for the initial amount of that substance or quantity to double in size.

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Define Newton’s Law of Cooling. Then name at least three real-world situations where Newton’s Law of Cooling would be applied.

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What is an order of magnitude? Why are orders of magnitude useful? Give an example to explain.

An order of magnitude is the nearest power of ten by which a quantity exponentially grows. It is also an approximate position on a logarithmic scale; Sample response: Orders of magnitude are useful when making comparisons between numbers that differ by a great amount. For example, the mass of Saturn is 95 times greater than the mass of Earth. This is the same as saying that the mass of Saturn is about 10 2 times, or 2 orders of magnitude greater, than the mass of Earth.

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Numeric

The temperature of an object in degrees Fahrenheit after t minutes is represented by the equation T ( t ) = 68 e 0.0174 t + 72. To the nearest degree, what is the temperature of the object after one and a half hours?

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For the following exercises, use the logistic growth model f ( x ) = 150 1 + 8 e 2 x .

Find and interpret f ( 0 ) . Round to the nearest tenth.

f ( 0 ) 16.7 ; The amount initially present is about 16.7 units.

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Find and interpret f ( 4 ) . Round to the nearest tenth.

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Find the carrying capacity.

150

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Determine whether the data from the table could best be represented as a function that is linear, exponential, or logarithmic. Then write a formula for a model that represents the data.

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x f ( x )
–2 0.694
–1 0.833
0 1
1 1.2
2 1.44
3 1.728
4 2.074
5 2.488

exponential; f ( x ) = 1.2 x

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Rewrite f ( x ) = 1.68 ( 0.65 ) x as an exponential equation with base e to five significant digits.

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Technology

For the following exercises, enter the data from each table into a graphing calculator and graph the resulting scatter plots. Determine whether the data from the table could represent a function that is linear, exponential, or logarithmic.

x f ( x )
1 2
2 4.079
3 5.296
4 6.159
5 6.828
6 7.375
7 7.838
8 8.238
9 8.592
10 8.908

logarithmic

Graph of the question’s table.
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x f ( x )
1 2.4
2 2.88
3 3.456
4 4.147
5 4.977
6 5.972
7 7.166
8 8.6
9 10.32
10 12.383
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x f ( x )
4 9.429
5 9.972
6 10.415
7 10.79
8 11.115
9 11.401
10 11.657
11 11.889
12 12.101
13 12.295

logarithmic

Graph of the question’s table.
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x f ( x )
1.25 5.75
2.25 8.75
3.56 12.68
4.2 14.6
5.65 18.95
6.75 22.25
7.25 23.75
8.6 27.8
9.25 29.75
10.5 33.5
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For the following exercises, use a graphing calculator and this scenario: the population of a fish farm in t years is modeled by the equation P ( t ) = 1000 1 + 9 e 0.6 t .

Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Practice Key Terms 6

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Source:  OpenStax, College algebra. OpenStax CNX. Feb 06, 2015 Download for free at https://legacy.cnx.org/content/col11759/1.3
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