Neco 2021 Economics Question 37

Practice objective / multiple choice question 37 from the 2021 Neco Economics examination.

Neco 2021 Economics Objective / Multiple Choice Hard Difficulty
Question 37 NECO • 2021 • ECONOMICS • objective

Population of a region follows the logistic model \(P(t)=\frac{K}{1+ae^{-bt}}\) where \(t\) is years after 2000. In 2000 the population was 2 million, in 2005 it was 2.8 million and in 2010 it was 3.5 million. Find the carrying capacity \(K\) (in millions), the intrinsic growth rate \(b\) (per year) and estimate the population in 2025.

Answer Options

A. Carrying capacity \\(K \\approx 4.90\\) million, intrinsic growth rate \\(b \\approx 0.140\\) per year, projected 2025 population \\(\\approx 4.70\\) million.
B. Carrying capacity \\(K \\approx 4.30\\) million, intrinsic growth rate \\(b \\approx 0.150\\) per year, projected 2025 population \\(\\approx 4.20\\) million.
Correct Answer C. Carrying capacity \(K \approx 4.67\) million, intrinsic growth rate \(b \approx 0.139\) per year, projected 2025 population \(\approx 4.48\) million.
D. Carrying capacity \\(K \\approx 5.12\\) million, intrinsic growth rate \\(b \\approx 0.125\\) per year, projected 2025 population \\(\\approx 4.60\\) million.
Correct Answer
C
Correct Option:
Carrying capacity \(K \approx 4.67\) million, intrinsic growth rate \(b \approx 0.139\) per year, projected 2025 population \(\approx 4.48\) million.

About This Question

This is Neco 2021 Economics Question 37. It is one of the objective questions from the 2021 Neco Economics examination.

Difficulty level: Hard .

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