Chapter 9 Test Review

A demand function for ladders manufactured by Home Depot is q = -600p + 17,000. What is the revenue if the price per ladder is $20?

• $12,000

• $17,000

• $5,000

• $100,000

A new smart watch has a markup of 135% and sells for $800.00. What is the wholesale price of the smart watch? Hint: Retail Price = Wholesale Price + Wholesale Price x Markup

• $340.43

• $665

• $935

• $400

The Athletic Shoe Company is making a new shoe that has a wholesale price of $50, and it wishes to advertise a retail price of $119.99. What is the markup percentage? Hint: Use percent increase formula

• 100%

• 140%

• 150%

• 200%

A company makes plastic cups. The plastic cups have an expense equation of E = 1.8q. How many plastic cups can the make with expenses of $3,752? Round to the nearest whole number

A new company manufactures baseballs. The fixed expenses are $49,078, and the variable expenses are $10 per baseball produced. What is the expense of producing 2,500 baseballs?

• $25,000

• $74,078

• $24,078

• $49,078

In the revenue equation R = -280p² + 26,600p, what is the maximum revenue that can be expected? Hint - Calculate p = -b/2a