Neco 2017 Economics Question 20
Practice objective / multiple choice question 20 from the 2017 Neco Economics examination.
The population of a country follows the logistic growth model \(\frac{dP}{dt}= rP\left(1-\frac{P}{K}\right)\) with intrinsic growth rate \(r = 0.04\) per year and carrying capacity \(K = 50\) million. In the year 2000 the population was \(P_{0}=5\) million.\n(a) Write the explicit solution \(P(t)\) for the population as a function of time \(t\) (in years, with \(t=0\) in 2000).\n(b) In which year will the population first reach 40 million?
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About This Question
This is Neco 2017 Economics Question 20. It is one of the objective questions from the 2017 Neco Economics examination.
Difficulty level: Hard .
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