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n 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 in this area was 961,400, and the population was increasing at roughly 9100 people per year. The average annual income was 30,593 dollars per capita, and this average was increasing at about 1200 dollars per year. Use the Product Rule and these figures to estimate the rate at which the total personal income was rising in the Richmond-Petersburg area in 1999.
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n this exercise, we estimate the rate at which the total personal income is rising in the Richmond-P...
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