CHAPTER 10

Business Cycles and Rates of Change

Fligh has a conversation with Dr. Theo before class. His company, Flightime Airlines, is engaged in a fierce competition with a new arrival, Skylight, which started very small but has attracted customers away from his Flightime by undercutting airfares. Currently, Flightime is still ahead of Skylight in their respective sales. However, he heard that sales at Skylight have been growing at a rate of 7.5 percent monthly whereas sales at his Flightime have only grown at a rate of 2 percent. He is worried that Skylight will soon catch up with his company’s sales and wants to find out when that will happen if their respective rates remain at 7.5 and 2 percent.

Dr. Theo tells him this issue of catching ...

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