Compared to the purely competitive industry, a pure monopoly Multiple Choice is often more efficient from society's perspective because it has big plants and it uses the newest technology. will always become competitive in the long run because positive economic profits will entice competitors into the market. produces an equal amount of output, but charges higher prices to cover all costs in the market. is able to use barriers to entry and maintain positive economic profits in the long run.

When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) find the amount of money accrued at the end of 3 years when $4000 is deposited in a savings account drawing 5 3 4 % annual interest compounded continuously. (round your answer to the nearest cent.) $ (b) in how many years will the initial sum deposited have doubled? (round your answer to the nearest year.) years (c) use a calculator to compare the amount obtained in part (a) with the amount s = 4000 1 + 1 4 (0.0575) 3(4) that is accrued when interest is compounded quarterly. (round your answer to the nearest cent.) s = $