The national income I(t) of a particular country is increasing by 2.3% per year, while the population

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The national income I(t) of a particular country is increasing by 2.3% per year, while the population P(t) of the country is decreasing at the annual rate of 1.75%. The per capita income C is defined to be

a. Find the derivative of ln C(t).

b. Use the result of part (a) to determine the percentage rate of growth of per capita income.

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Calculus For Business, Economics And The Social And Life Sciences

ISBN: 9780073532387

11th Brief Edition

Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price

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The national income I(t) of a particular country is increasing by 2.3% per year, while the population

Question:

C(t) = I(t) P(t)

Step by Step Answer:

a b It Pt I...View the full answer

Calculus For Business, Economics And The Social And Life Sciences

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