Neco Model Questions Vol1 2024 Economics Question 30
Practice objective / multiple choice question 30 from the 2024 Neco Model Questions Vol1 Economics examination.
A country's population follows the logistic model \(P(t)=\frac{K}{1+ae^{-bt}}\), where \(K\) is the carrying capacity. Given \(K = 50\) million, the initial population at \(t=0\) is 10 million, and the population after 5 years is 15 million, determine the parameters \(a\) and \(b\). Then calculate the year (rounded to the nearest whole year) when the population will reach 40 million.
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About This Question
This is Neco Model Questions Vol1 2024 Economics Question 30. It is one of the objective questions from the 2024 Neco Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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