While powers and logarithms of any base can be used in modeling, the two most common bases are
and
In science and mathematics, the base
is often preferred. We can use laws of exponents and laws of logarithms to change any base to base
Given a model with the form
change it to the form
Rewrite
as
Use the power rule of logarithms to rewrite y as
Note that
and
in the equation
Changing to base
e
Change the function
so that this same function is written in the form
is the amount of carbon-14 when the plant or animal died
is the amount of carbon-14 remaining today
is the age of the fossil in years
Doubling time formula
If
the doubling time is
Newton’s Law of Cooling
where
is the ambient temperature,
and
is the continuous rate of cooling.
Key concepts
The basic exponential function is
If
we have exponential growth; if
we have exponential decay.
We can also write this formula in terms of continuous growth as
where
is the starting value. If
is positive, then we have exponential growth when
and exponential decay when
See
[link] .
In general, we solve problems involving exponential growth or decay in two steps. First, we set up a model and use the model to find the parameters. Then we use the formula with these parameters to predict growth and decay. See
[link] .
We can find the age,
of an organic artifact by measuring the amount,
of carbon-14 remaining in the artifact and using the formula
to solve for
See
[link] .
Given a substance’s doubling time or half-time, we can find a function that represents its exponential growth or decay. See
[link] .
We can use Newton’s Law of Cooling to find how long it will take for a cooling object to reach a desired temperature, or to find what temperature an object will be after a given time. See
[link] .
We can use logistic growth functions to model real-world situations where the rate of growth changes over time, such as population growth, spread of disease, and spread of rumors. See
[link] .
We can use real-world data gathered over time to observe trends. Knowledge of linear, exponential, logarithmic, and logistic graphs help us to develop models that best fit our data. See
[link] .
Any exponential function with the form
can be rewritten as an equivalent exponential function with the form
where
See
[link] .
is it possible to leave every good at the same level
Joseph
I don't think so. because check it, if the demand for chicken increases, people will no longer consume fish like they used to causing a fall in the demand for fish
Anuolu
is not really possible to let the value of a goods to be same at the same time.....
Salome
Suppose the inflation rate is 6%, does it mean that all the goods you purchase will cost
6% more than previous year? Provide with reasoning.
Not necessarily. To measure the inflation rate economists normally use an averaged price index of a basket of certain goods. So if you purchase goods included in the basket, you will notice that you pay 6% more, otherwise not necessarily.
Good day
How do I calculate this question: C= 100+5yd G= 2000 T= 2000 I(planned)=200.
Suppose the actual output is 3000. What is the level of planned expenditures at this level of output?
I am Camara from Guinea west Africa... happy to meet you guys here
Sekou
ma management ho
Amisha
ahile becheclor ho
Amisha
hjr ktm bta ho
ani k kaam grnu hunxa tw
Amisha
belatari
Amisha
1st year ho
Amisha
nd u
Amisha
ahh
Amisha
kaha biratnagar
Amisha
ys
Amisha
kina k vo
Amisha
money as unit of account means what?
Kalombe
A unit of account is something that can be used to value goods and services and make calculations
Jim
all of you please speak in English I can't understand you're language
Muhammad
I want to know how can we define macroeconomics in one line
Muhammad
it must be .9 or 0.9
no Mpc is greater than 1
Y=100+.9Y+50
Y-.9Y=150
0.1Y/0.1=150/0.1
Y=1500
Kalombe
Mercy is it clear?😋
Kalombe
hi can someone help me on this question
If a negative shocks shifts the IS curve to the left, what type of policy do you suggest so as to stabilize the level of output?
discuss your answer using appropriate graph.