When discussing and generating ideas with team members, you should: A. Confine the discussion to generalities and avoid any deci
1 answer:
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Answer: b. Is the Chinese food that you gave up when you chose to eat Italian food.
Explanation: Opportunity cost refers to the cost of the next best alternative foregone or sacrificed. When an individual chooses to take a certain action, then his opportunity cost of doing that will be the alternatives that he has foregone.
IT can be expresses as,
When the individual chooses Chinese food when he could have choose to eat Italian food, his opportunity cost will be the Chinese food that you gave up.
For other options there is no information on what was given up.
Answer:
The world's population would have been 7.1137 billion in 2012, and this is 0.0437 billion (i.e. 7.1137 - 7.07 = 0.0437) higher compared to the population reference bureau estimate of 7.07 billion in July 2012.
Explanation:
This can be computed using the following exponential formula:
P(t) = P(0)a^t ............................ (1)
Where;
P(t) = World population in year t.
P(0) = World population in year 0 which is 1998 = 5.937 billion
a = base = ?
t = number of years
Substituting the value into equation (1), we have:
P(t) = 5.937 * a^t .......................................... (2)
Since we have 10 years from 1998 to 2008 (i.e. 2008 - 1998 = 10), we have:
P(t) = P(10) = World population in 2008 = 6.771 billion
t = 10
Substituting the value into equation (2) and solve for a, we have:
6.771 = 5.937 * a^10
a^10 = 6.771 / 5.937
a^10 = 1.1405
a =
a = 1.013
Since we have 14 years from 1998 to 2012 (i.e. 2012 - 1998 = 14), we now have:
P(t) = P(14) = World population in 2012 = ?
P(0) = World population in year 0 which is 1998 = 5.937 billion
a = 1.013 as already calculated above
t = 14
Substituting the value into equation (1), we have:
P(14) = 5.937 * 1.013^14
P(14) = 5.937 * 1.192
P(14) = 7.1137 billion
Therefore, the world's population would have been 7.1137 billion in 2012, and this is 0.0437 billion (i.e. 7.1137 - 7.07 = 0.0437) higher compared to the population reference bureau estimate of 7.07 billion in july 2012.