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Suppose you are selling crafts at a craft show. It costs you $100 to rent a table. Each item costs you $4 to make and sell them for $10 each.
Write the total cost equation.
How much does it cost to make 17 items?
C=4x + 100
168
A manufacturer makes items at a cost of $46 per item and sells them for $60 each. Thirty items cost $1500 to make.
What is the variable cost?
$46
If quantity demanded is 95, what is the price?
Show how you know
$62
A lawn mowing business finds that its cost and revenue equations are:
C=1.5x+200 R=26x P=R-C
How many lawns must be sold to breakeven?
A manufacturer sells items for $220 each. The daily operational overhead is $2000. 36 items cost $8480 to produce.
What is the variable cost? Show how you know
$180
Suppose you are selling crafts at a craft show. It costs you $100 to rent a table. Each item costs you $4 to make and sell them for $10 each.
Write the revenue equation.
How much will you make if you sell 17 items?
$170
A manufacturer makes items at a cost of $46 per item and sells them for $60 each. Thirty items cost $1500 to make.
What is the fixed cost? Show how you know
120
If quantity supplied is 140, what is the price?
Show how you know
$56
A lawn mowing business finds that its cost and revenue equations are:
C=1.5x+200 R=26x P=R-C
Write and simplify a profit equation
P=24.5x - 200
A manufacturer sells items for $220 each. The daily operational overhead is $2000. 36 items cost $8480 to produce.
What is the fixed cost?
$2000
Suppose you are selling crafts at a craft show. It costs you $100 to rent a table. Each item costs you $4 to make and sell them for $10 each.
What is the break even point?
17
A manufacturer makes items at a cost of $46 per item and sells them for $60 each. Thirty items cost $1500 to make.
Write the total cost equation
What is the cost to make 37 items?
C=46x + 120
$1,822
At $54, how much quantity is supplied?
Was this a shortage, surplus, or equilibrium?
Show how you know
135
Shortage
A lawn mowing business finds that its cost and revenue equations are:
C=1.5x+200 R=26x P=R-C
What is the profit if 20 lawns are mowed?
$290
A manufacturer sells items for $220 each. The daily operational overhead is $2000. 36 items cost $8480 to produce.
Write the total cost equation
What is the cost to make 12 items?
C=180x + 2000
$4,160
Find the equilibrium quantity!
P = 16/5 - 2q & P=7/5q - 1/5
Show all work
1
A manufacturer makes items at a cost of $46 per item and sells them for $60 each. Thirty items cost $1500 to make.
Write the revenue equation
What is the revenue for selling 37 items?
R=60x
$2,220
At $48, how much quantity is demanded?
Was this a shortage, surplus, or equilibrium?
Show how you know
130
Shortage
A lawn mowing business finds that its cost and revenue equations are:
C=1.5x+200 R=26x P=R-C
How many lawns must be mowed to produce a $878 profit?
44 lawns
A manufacturer sells items for $220 each. The daily operational overhead is $2000. 36 items cost $8480 to produce.
Write the revenue equation
What is the revenue for selling 12 items?
R=220x
$2,640
Find the equilibrium price!
P = 16/5 - 2q & P=7/5q - 1/5
Show all work!
$1.20 and $1.20
A manufacturer makes items at a cost of $46 per item and sells them for $60 each. Thirty items cost $1500 to make.
Find the break even point. Explain in words!
Show how you know
9
9 items would need to be sold to break even or make a profit
At $42, is there a shortage, surplus, or equilibrium of quantity?
Show how you know
$56
A graduate is offered two jobs. The first job has a $15,000 sign-on bonus plus an annual salary of $25,000. The second job has a $5000 sign-on bonus plus an annual salary of $30,000. Let y be total money earned and x be number of years.
Write an equation for job 1 and job 2
After what number of years would both jobs have paid the same amount?
After 2 years
A manufacturer sells items for $220 each. The daily operational overhead is $2000. 36 items cost $8480 to produce.
Find the break even point. Explain in words!
Show how you know
50
They must sell 50 items to break even