Question

In this exercise we estimate the rate at which the total personal income is rising in a metropolitan area. In 1999, the population of this area was 900,000, and the population was increasing at roughly 10000 per year. The average annual income was $30,388 per capita, and this average was increasing at about $1400 per year (a little above the national average of about $1225 yearly). Use the Product Rule and these figures to estimate the rate at which total personal income was rising in the area in 1999.

Answer 1

Equation of population growth= 900,000+10,000x
Equation of Average annual income =30,388+1400x

Answer 2

Let's use product rule

Answer 3

D[f[x]*g[x], x]
10000 (30388 + 1400 x) + 1400 (900000 + 10000 x)