1. A machine is currently worth $120,000 and will be depreciated linearly over a
ID: 2857448 • Letter: 1
Question
1. A machine is currently worth $120,000 and will be depreciated linearly over an 8 years period, at which time it will be worth $25,000 scrap.
(A) Find the depreciation function, f(x).
(B) What will the machine be worth in 3 years?
2. You are a business manager. An estimated cost in dollars to produce a new product of X units is given by C(x) = 1750x + 90450 and aqn estimated revenue in dollars in given by R(x) = 1975x.
(A) Label and sketch these functions on a same set of axes.
(B) Find the break-even amount.
3. Witout graphing find the vertex of the following parabola and the axis of symmetry.
4. Suppose the supply and demand function of barbecue grills are given by
Supply: p=4q2 Demand: p= 5832-4q2 p is in dollars
(A) label and sketch the supply and demand functions on the same set of axes.
(B) find the equilibrium quantity and equilibrium price.
Explanation / Answer
(1)
(A) f(x)=mx + b
f(×)= mx + 120000
25000=8m + 120000
8m =-95000
m = -11875
f(x)=-11875x +120000
(B) f(3)=-11875(3) + 120000
f(x)= $84375
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