In 1999, the population of Richmond-Petersburg, Virginia, metropolitan area, was 961,400 and was increasing at a...

 

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In 1999, the population of Richmond-Petersburg, Virginia, metropolitan area, was 961,400 and was increasing at a at roughly 9200 people per year. The average annual income in the area was $30,593 per capita, and this average was increasing at about $1400 per year. Use the product rule to estimate the rate at which total personal income was rising in the area at this time. Explain the meaning of each term in the product rule. In 1999, the population of Richmond-Petersburg, Virginia, metropolitan area, was 961,400 and was increasing at a at roughly 9200 people per year. The average annual income in the area was $30,593 per capita, and this average was increasing at about $1400 per year. Use the product rule to estimate the rate at which total personal income was rising in the area at this time. Explain the meaning of each term in the product rule.