Homework

Q1. You are given the cost per item and the fixed costs. Assuming a linear cost model, find the cost equation, where C is cost and x is the number produced.

Cost per item = $9, fixed cost = $6850

C(x) = ?

Q2. You are given the price of each item, which is assumed to be constant. Find the revenue equation, where R is revenue and x is the number sold.Price per item = $0.55

R(x) = ?

Q3. Find the supply equation using the given information. (Let x be the number of items.)At a price of $1200 a supplier will supply 140 items. If the price decreases by $200, then the supplier will supply 25 fewer items.

S(x) = ?