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The exponential function describes a quantity that grows or decays at a constant proportional rate. It is typically written as f(x) = a^x, where 'a' is the base and 'x' is the exponent. For example, if we have f(x) = 2^x, each time x increases by 1, the function doubles, showing exponential growth.

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Q: Explain the exponential function with the help of an example?
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