1. Write a demand and a supply curve expressed in the form of an exponential logarithmic functions respectively. Demonstrate graphically or otherwise, th functions reflect all the characteristics of a demand and supply curve. 2. a. Solve the linear inequality: 2(5-x) ≤ 3(5-x) - 7x. b. Hence or otherwise, represent your solution set on a number line. 3. Solve the system of linear inequalities: 4x + 2y ≥ 8 y - 4 > x
1. Write a demand and a supply curve expressed in the form of an exponential logarithmic functions respectively. Demonstrate graphically or otherwise, th functions reflect all the characteristics of a demand and supply curve. 2. a. Solve the linear inequality: 2(5-x) ≤ 3(5-x) - 7x. b. Hence or otherwise, represent your solution set on a number line. 3. Solve the system of linear inequalities: 4x + 2y ≥ 8 y - 4 > x
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Problem Set B
1. Write a demand and a supply curve expressed in the form of an exponential and
logarithmic functions respectively. Demonstrate graphically or otherwise, that the
functions reflect all the characteristics of a demand and supply curve.
2. a. Solve the linear inequality: 2(5-x) ≤3(5-x) - 7x.
b. Hence or otherwise, represent your solution set on a number line.
3. Solve the system of linear inequalities:
4x + 2y ≥ 8
y - 4 > x
4. Windies Cricket manufactures Windies supporter jerseys. The quantity q, of these
jerseys demanded weekly is related to the wholesale price per jersey p, by the
following equation:
p = -0.006q+15
The weekly total cost incurred by Windies Cricket for producing q jerseys is:
C(q) = 38q0.02q² + 30,000
a. Determine an expression to represent the weekly Revenue function.
b. Determine an expression to represent the weekly Profit function.
c. Calculate the weekly Revenue when ten dozen jerseys are produced and sold.
|
d. Will Windies Cricket record a loss or profit if they were to produce and sell 2450
jerseys?
e. If Windies Cricket wishes to maintain a total cost less than $42,000.00, what
range(s) of Windies jerseys should be produced.
f. Calculate the equilibrium price and quantity for Windies jerseys.
3](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3811d626-9963-4991-bc74-613e049ffb34%2F90540010-1e1b-4515-a4f3-255eac88ce12%2Fb13353_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem Set B
1. Write a demand and a supply curve expressed in the form of an exponential and
logarithmic functions respectively. Demonstrate graphically or otherwise, that the
functions reflect all the characteristics of a demand and supply curve.
2. a. Solve the linear inequality: 2(5-x) ≤3(5-x) - 7x.
b. Hence or otherwise, represent your solution set on a number line.
3. Solve the system of linear inequalities:
4x + 2y ≥ 8
y - 4 > x
4. Windies Cricket manufactures Windies supporter jerseys. The quantity q, of these
jerseys demanded weekly is related to the wholesale price per jersey p, by the
following equation:
p = -0.006q+15
The weekly total cost incurred by Windies Cricket for producing q jerseys is:
C(q) = 38q0.02q² + 30,000
a. Determine an expression to represent the weekly Revenue function.
b. Determine an expression to represent the weekly Profit function.
c. Calculate the weekly Revenue when ten dozen jerseys are produced and sold.
|
d. Will Windies Cricket record a loss or profit if they were to produce and sell 2450
jerseys?
e. If Windies Cricket wishes to maintain a total cost less than $42,000.00, what
range(s) of Windies jerseys should be produced.
f. Calculate the equilibrium price and quantity for Windies jerseys.
3
![Problem Set A
1. Expand the following expressions:
a. TC(q)- 2TR(q) - FC(q)
b. 5q-(3-2q)³
C.
2
e2
1 - In (²²) ²
2. Factorize the following expression:
a. 4 + 4(2) + 4
b. 108q-36+7q³ - 59q²
3.
a. Use Microsoft Excel or otherwise to draw the graph for each of the following
functions to scale, on the same page for -5 <h ≤ 5:
i.
F(h) = -5
ii.
G (h) = h²-5
iii.
M(h) = 5-h
b. Hence, copy and complete the table below for the functions that you have drawn in
3(a) above.
Horizontal intercept point(s)
Vertical intercept point(s)
State ALL
point(s) for
which each
function
intercepts with
another
function.
F(h) = -5
G(h) = h² - 5
M(h) = 5-h
F(h)
= -5
G(h)=h²-5 M(h) = 5-h
[9 marks]
2](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3811d626-9963-4991-bc74-613e049ffb34%2F90540010-1e1b-4515-a4f3-255eac88ce12%2Fbvznt3_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem Set A
1. Expand the following expressions:
a. TC(q)- 2TR(q) - FC(q)
b. 5q-(3-2q)³
C.
2
e2
1 - In (²²) ²
2. Factorize the following expression:
a. 4 + 4(2) + 4
b. 108q-36+7q³ - 59q²
3.
a. Use Microsoft Excel or otherwise to draw the graph for each of the following
functions to scale, on the same page for -5 <h ≤ 5:
i.
F(h) = -5
ii.
G (h) = h²-5
iii.
M(h) = 5-h
b. Hence, copy and complete the table below for the functions that you have drawn in
3(a) above.
Horizontal intercept point(s)
Vertical intercept point(s)
State ALL
point(s) for
which each
function
intercepts with
another
function.
F(h) = -5
G(h) = h² - 5
M(h) = 5-h
F(h)
= -5
G(h)=h²-5 M(h) = 5-h
[9 marks]
2
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