1. A company produces park benches with a weekly fixed
cost of $1,200 plus $45 for each
park bench produced.
(a) Find a linear equation that relates the weekly cost C to produce x park
benches.
(b) What is the weekly cost to produce 50 benches?
(c) How many benches can be produced with a weekly cost of $4,530?
(d) Use a graphing calculator to plot the linear equation. Give a sketch and
identify
how the answers from the previous two parts relate to the graph.
2. A fishing company buys a new boat for $240,000 and as sumes it will have a
trade in
value of $115,200 after 16 years.
(a) Find a linear model for the de preciated value V of the boat t years after it
was
purchased.
(b) What is the depreciated value of the boat after 10 years?
(c) When will the depreciated value fall below $100,000?
(d) Use a graphing calculator to graph V for 0 ≤ t ≤ 30 and
illustrate the answers
from the previous two parts.
3. A plant can manufacture 50 tennis rackets per day for a total daily cost of
$3,855 and
60 tennis rackets per day for a totaly daily cost of $4,245.
(a) Assuming that daily cost and production are linearly related, find the total
daily
cost of producing x tennis rackets.
(b) Graph the total daily cost for 0 ≤ x ≤ 100.
(c) Interpret the slope and y intercept of this cost equation.
4. Use the corn market data be low to answer the following:
(a) A linear supply equation of the form p = mx + b.
(b) A linear demand equation of the form p = mx + b.
(c) The equilibrium point.
(d) Graph the supply equation, demand equation, and equilibrium point in the
same
coordinate system .
| Year |
Supply (mi bu) |
Demand (mi b |
Price ($/bu) |
| 1998 |
9,800 |
9,300 |
1.94 |
| 1999 |
9,400 |
9,500 |
1.82 |
