Please help me with this question
1 answer:
You might be interested in
Answer:
The rate at which the total income is increasing is$1627415600
Step-by-step explanation:
From the given data
Population in the area=P=961400
The rate of increase in population=dP/dt=9200
The Average Income=I=$30593
The rate of increase in Average Income=dI/dt=$1400
Now the total income is given as
Total Income=TI=PI
So the rate of increase of total personal income is given as
From the product rule of derivatives
Here
I is the Average Income which is given as $30593
dI/dt is the rate of increase of income which is given as $1400.
P is the population of the area which is given as 961400
dP/dt=9200 is the rate of increase of population which is given as 9200
By substituting the values,
So the rate at which the total income is increasing is$1627415600