For a-c, find the long-run value of the sequence generated by the recursive formula.
a. u0 = 50, un = (1- 0.30)un-1 + 10 where n ≥ 1
b. u0 = 50, un = (1- 0.30)un-1 + 20 where n ≥ 1
c. u0 = 50, un = (1- 0.30)un-1 + 30 where n ≥ 1
d. Generalize any patterns you notice in your answers to 15a-c. Use your generalizations to find the long-run value of the sequence generated by
u0 = 50, un = (1- 0.30)un-1 + 70 where n ≥ 1