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Expense Functions and Revenue Analysis

Expense Functions and Revenue Analysis

Assessment

Interactive Video

Mathematics

9th - 10th Grade

Practice Problem

Hard

Created by

Thomas White

FREE Resource

The video tutorial covers chapter five of Unit 10, focusing on expense and revenue functions. It begins with an introduction to the objectives, including writing, graphing, and interpreting these functions. Example 1 demonstrates calculating the expense function for Picasso Paints, while Example 2 applies similar concepts to an electronics company. The tutorial concludes with deriving the revenue equation for Picasso Paints and graphing it.

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6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the objectives of the lesson?

To calculate the area of a circle

To understand the history of Picasso

To write, graph, and interpret the expense function

To learn how to cook a meal

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the fixed cost in the expense function example for Picasso Pain's product line?

$7

$500

$28,000

$30,000

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do you find the vertical intercept of the expense function?

Set the variable cost to zero

Set the quantity to zero

Set the price to zero

Set the fixed cost to zero

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the electronics company example, what is the cost to manufacture each earphone?

$5

$28,000

$20,000

$7

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula for the revenue function?

Revenue = Quantity x Price

Revenue = Price x Demand Function

Revenue = Expense + Profit

Revenue = Fixed Cost + Variable Cost

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the price is set at $25, what is the calculated revenue?

$500,000

$437,000

$220,000

$238,000

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