Deal city is having a sale on a video game that, because of it popularity is notoriously hard to get ahold of. While waiting in
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Answer:
1222 billion dollars.
Step-by-step explanation:
To find the total increase from 1960 to 2010, we need to find the growth of each decade and sum them all:
In the period 1960-1970, we have x = 1, and the growth is:
In the period 1970-1980, we have x = 2, and the growth is:
The growth in the following 3 periods are:
So the total growth in the period 1960 - 2010 is:
Rounding to the nearest billion dollars, we have a total of 1222 billion dollars.
The extra amount that Mary would pay for apples under a monopoly instead of perfect competition is B. $3
<h3>Calculations and Parameters:</h3>From the complete information,
There are images of the prices that can be gotten under a monopoly and the ones that can be gotten in a perfect competition by Mary.
The marginal cost which is graphed against the pound of apples and the price shows Mary would pay $15 and the marginal revenue shows that Mary would pay $12.
Hence, the difference between them, which is the extra amount to be paid would be $15-$12
=$3
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