In this exercise we estimate the rate at which the total personal income is rising in a metropolitan area. In 1999, the population of this area was 912,300, and the population was increasing at roughly 9800 per year. The average annual income was $29,001 per capita, and this average was increasing at about $1400 per year (a little above the national average of about $1225 yearly). Use the Product Rule and these figures to estimate the rate at which total personal income was rising in the area in 1999.
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