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# In this exercise we estimate the rate at which the total personal income is rising in the Richmond-Petersburg, Virginia, metropolitan area. In 1999. the population of this area was 961,400, and the population was increasing at roughly 9200 people per year. The average annual income was S30,593 per capita, and this average was increasing at about S1400 per year (a little above the national average of about S1225 yearly). Use the Product Rule and these figures to estimate the rate at which total personal income was rising in the Richmond-Petersburg area in 1999. Explain the meaning of each term in the Product Rule.

#### Topics

Derivatives

Differentiation

##### Kristen K.

University of Michigan - Ann Arbor

##### Samuel H.

University of Nottingham

Lectures

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