Linear Cost, Revenue, Profit, Supply, and Demand
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Team Name: ______KEY______________
Members Present: ____________________________________________________________
Section: __________
Part I
1.
_$16,500_____________
2.
_600x + 4500_________
3.
_$15,000_____________
4.
_750x_______________
6.
_750x – (600x + 4500) = 150x – 4500_
7.
_110_______________
8.
C(x) = _L2_____
R(x) = _L1_____
P(x) = _L3_____
9.
The revenue function, R(x), should always contain the origin, because_____
when zero items are sold, zero revenue is generated.____________________
Part II
1.
(x, p) = ( _7500___, _750____)
2.
(x, p) = ( _9000___, _700____)
4.
p = − 301 x + 1000 or D( x ) = − 301 x + 1000
__________________________________
5.
a. _No. Consumers cannot demand a negative number of items._ _______
b. _No. Items should never be sold at a negative price.________
c. _From left to right the line is falling. Slope is negative.____________
6.
(x, p) = ( _0___, _600__ )
8.
(x, p) = ( _2000___, _700____)
9.
1
m
20
__________________________
10.
p = 201 x + 600 or S ( x ) = 201 x + 600
____________________________
11.
a._No. Producers will not supply a negative number of items._________
b._No. Items should never be sold at a negative price.________________
c._From left to right the line is rising. Slope is positive._______________
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