The population of the world in 2015 was 9.75 billion people and was growing at a rate of 1.25% per year. (i) Assuming that this growth rate continues, derive a model to represent the population P (in billions of people) in year t. (ii) From the model derive in (i), approximately when will the population of the world be 11.2 billion people?

The population of the world in 2015 was 9.75 billion people and was growing at a rate of 1.25% per year. (i) Assuming that this growth rate continues, derive a model to represent the population P (in billions of people) in year t. (ii) From the model derive in (i), approximately when will the population of the world be 11.2 billion people?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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