Neco 2024 Economics Question 18
Practice objective / multiple choice question 18 from the 2024 Neco Economics examination.
A country's population follows the logistic growth model \( P(t)=\frac{K}{1+\left(\frac{K-P_{0}}{P_{0}}\right)e^{-rt}} \) with carrying capacity \(K=80\) million, initial population \(P_{0}=20\) million and intrinsic growth rate \(r=0.04\) per year. How many years (to one decimal place) will it take for the population to reach \(40\) million?
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About This Question
This is Neco 2024 Economics Question 18. It is one of the objective questions from the 2024 Neco Economics examination.
Difficulty level: Hard .
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