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DSC1520 ASSIGNMENT 05 SOLUTION SEMESTER 2 2024
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Question 1 Suppose the cost of manufacturing 10 units of a product is R40 and the cost oNot yet is R70. If the cost C is linearly related to output Q (units produced), the cost o
answered
Marked out of
a. R121, 67
4.00
b. R65, 00
c. R113, 33
d. R115, 00
Question 2 The demand and cost functions for a commodity are given by the equations,
Not yet
answered
Demand function: Q = 6 000 − 30P and Cost function: C(Q) = 5 000 + 2
the price and quantity respectively. The total revenue function (T R), in terms o
Marked out of
4.00
a. T R = 6 000P − 30P 2
b. T R = 6 000 − 30P
c. T R = P (6 000 − 30P
d. T R = 6 000 − 30P
Question 3
The demand and cost functions for a commodity are given by the equations,
Not yet
answered Demand function: Q = 6 000 − 30P and Cost function: C(Q) = 5 000 + 2
Marked out of the price and quantity respectively. What is the company’s pro�t function?
4.00
a. Pro�t = −30P 2 + 6 060P − 7 000
b. Pro�t = −30P 2 + 6 060P − 17 000
c. Pro�t = −30P 2 + 5 940P − 17 000
d. Pro�t = −30P 2 + 5 940P + 7 000
Question 4 If the demand function is
Not yet
answered P = 50 − 2, 5Q,
Marked out of
4.00
where P and Q are the price and quantity respectively, determine the point pric
P = 10. . Is demand elastic or inelastic at this price?
, Question 6 Employees at a certain company prefer buying hamburgers at their cafeteria. T
Not yet for 100 hamburgers when the price is R25. It is known that for each R1 increase
answered
decreases by one hamburger. Determine the demand function with quantity dem
Marked out of of price (P )
4.00
a. Q = 75 − P
b. Q = 125 − P
c. Q = −25 − P
d. Q = 100(P − 25)
Question 7 A retail store sells a product at a price of R3,10 per unit. If the total cost of prod
Not yet
answered C(x) = 300 + 0, 92x,
Marked out of
4.00
approximately how many units should be sold to break even?
a. 0, 01
b. 323
c. 138
d. 75
Question 8 Given
Not yet
answered y = x4 + 2x3 − 3x2 − 4x + 4.
Marked out of
4.00 Find the critical points.
1
a. x = −2, 2
and 1
b. x = 2, − 12 and −1
c. x = −2, − 12 and −1
d. x = −2, − 12 and 1
Question 9 The demand and supply functions of a product are given by
Not yet
answered Pd = Q2 + 2Q + 5
Marked out of
4.00
and
Ps = 29 − 3Q,
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