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WorksheetsModeling a Business
Total questions: 20
Worksheet time: 28mins
Name
Class
Date
1.
Where the graphs of supply and demand functions intersect the market is in equilibrium?
a)
True
b)
False
2.
Jeff prepares meals in the home of his customers. His fixed cost for transportaiton and supplies $14.50. The labor and groceries needed for each family meal is $8.80, so the expense function is E = 5.7q +8.8.
a)
True
b)
False
3.
Is this an expense or revenue function?
y = -5x + 25
y = -5x + 25
a)
Revenue
b)
Expense
4.
A correlation coefficient can be positive or negative, but it cannot be less than -1?
a)
True
b)
False
5.
The markup for a cutting board is $4. The cutting board costs $3 to manufacture. The percentage of markup is ______.
a)
133%
b)
75%
c)
43%
d)
7%
6.
A cactus garden has an expense equation of E = 4q + 10. The average cost per cactus when 10 cactus are used is ______?
a)
$4
b)
$5
c)
$6
d)
$50
7.
The price that a manufacturer charges a retailer for an item is the ________ price.
a)
original
b)
retail
c)
wholesale
d)
sales
8.
The cost for postage and packaging are examples of fixed expenses.
a)
True
b)
False
9.
The profit function is
P = -5x^2 + 50x
What is the maximum profit?
P = -5x^2 + 50x
What is the maximum profit?
a)
$100
b)
$150
c)
$200
d)
$500
10.
The expense and revenue function are given for selling birria.
E = 2x+100
R = 6x
What is the break-even point?
E = 2x+100
R = 6x
What is the break-even point?
a)
15
b)
20
c)
25
d)
50
11.
The revenue and cost function are given:
R = -4x^2 + 96x
C = -2x+120
The profit function is:
R = -4x^2 + 96x
C = -2x+120
The profit function is:
a)
-4x^2 + 94x + 120
b)
-4x^2 +98x - 120
c)
-2x^2 +94x - 120
d)
-2x^2 + 98x -120
12.
The coefficients are given for you to solve the break even point:
a = -4
b=98
c=120
What is the best break even point?
a = -4
b=98
c=120
What is the best break even point?
a)
-18
b)
0
c)
100
d)
411
13.
Break even point includes worker's wages and the owner's income.
a)
True
b)
False
14.
If a manufacturer cuts the production of televisions, the price of televisions goes down?
a)
True
b)
False
15.
The manufacturer's price is at the equilibrium price.
a)
True
b)
False
16.
What is the expense of producing 1000 rackets given -
Each racket costs $14, the rent for the shop is $2000 per month and the owner wants to earn $5000 per month.
Each racket costs $14, the rent for the shop is $2000 per month and the owner wants to earn $5000 per month.
a)
$6900
b)
$7900
c)
$8400
d)
$8900
17.
The demand function for step stools is: q = -50p +20000
What is revenue if the price per step stool is $18 per stool?
What is revenue if the price per step stool is $18 per stool?
a)
$18100
b)
$19100
c)
$20,100
d)
$21,100
18.
The supply and demand functions are given:
-3x + 4y = 7
2x - 5y = 6
Use an augmented matrix to solve for x and y. Remember to use rref( to find your answers. Round up.
-3x + 4y = 7
2x - 5y = 6
Use an augmented matrix to solve for x and y. Remember to use rref( to find your answers. Round up.
a)
5, 9
b)
6, 10
c)
5, 10
d)
10, 6
19.
The number of ice creams sold in a day is dependent on temperature.
y = 10x - 480
If the temperature is 90 degrees, how many ice creams are sold on that day?
y = 10x - 480
If the temperature is 90 degrees, how many ice creams are sold on that day?
a)
480
b)
420
c)
400
d)
350
20.
The break even point is when:
a)
The profit is zero.
b)
The expenses are zero.
c)
There is no revenue.
d)
Expenses = profit.
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