AFA 9-3 to 9-5 DLD Graded Assignment

When the supply and demand curves intersect, the market is in...

• Demand

• Surplus

• Deficit

• Equilibrium

E = 4.00q + $78,000 and the demand function was q= -4p +3000, Express E in terms of p?

• E= -16.00p + 90,000

• E= -16.00p + 81,000

• None of the other answer options

• E= -4p +4q + 75,000

 A new company manufactures scientific calculators. The fixed expenses are $78,490, and the variable expenses are $14 per calculator produced. What is the expense of producing 3,500 calculators?

• $49,000

• $81,990

• $127,490

• $147,900

Examine the graph below. At what price is the maximum profit?

• $24

• $48

• $27,000

• $62,000

A company makes phone cases. The phone cases have an expense equation of f(q) = 2.75q + $36,529. What is the fixed cost in the expense function?

• $ 2.75

• $36,529

• q

• 2.75q

Smoothie World has determined that its expense and revenue functions are E = 5q + 60,000 and R = 7.00q. How many smoothies would the company have to sell to break even? 

• 60,000

• 30,000

• 210,000

• 5000

How do you calculate profit in a business?

• Adding expenses to revenue

• Dividing expenses by the number of items produced

• Subtracting expenses from revenue

• Multipyling the price of an item by the quantity sold.

What is revenue?

• Money received from the sale of a product or service

• The amount spent to make a product or purchase

• The type of spending to make the product, perform the service, or run the business

• The money left over after all expenses are paid

Total Expenses equals ..

• variable costs plus revenue

• the difference between variable costs and fixed costs

• variable costs plus fixed costs

• the difference between revenue and fixed costs

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