Neco 2019 Economics Question 3
Practice objective / multiple choice question 3 from the 2019 Neco Economics examination.
Nigeria's population follows the logistic model \(P(t)=\frac{K}{1+Ae^{-rt}}\), where \(K\) is the carrying capacity, \(r\) the intrinsic growth rate and \(t\) years since 2010. In 2010 the population was 150 million and in 2020 it was 180 million. The carrying capacity is estimated at 300 million. (a) Determine the intrinsic growth rate \(r\) (to four decimal places). (b) Predict the first calendar year in which the population will exceed 250 million.
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About This Question
This is Neco 2019 Economics Question 3. It is one of the objective questions from the 2019 Neco Economics examination.
Difficulty level: Hard .
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