Question

1. The quantity for a 17-inch LCD TV is 20,000 at a price of Php25,000, while 45,000 is demanded for the price of Php15,000. Assuming a linear relationship between price and quantity, which of the following models the price-quantity function of the LCD TV?

2. A young entrepreneur is willing to supply 60 pieces of personalized baller band at a price of Php80 and 100 at a price of Php110. Assuming a linear relationship between price and quantity, which of the following models the price-quantity function of the baller band?

3. Suppose that the demand function for a certain brand of shampoo is D(x) = –1.25x + 525. What is the highest price anyone will be willing to pay for the shampoo?

4. The cost and revenue function for a particular brand of bag are C(x) = 6x + 3 and R(x) = 19 – 2x. What is the break even point?

there is no options given

Answer 1

Required 1

Price	Quantity	Amount
20,000	25,000	500,000,000
15,000	45,000	675,000,000

Price quantity function can be calculated as follows:

Variable part of the price = Change in total amount / Change in quamtity

= (675,000,000 - 500,000,000) / (45,000 - 25,000)

  = 8,750

Fixed part of the price = 500,000,000 - 8,750 * 25000 units

= $281,250,000

The function would be: Total sales = $281,250,000 + 8750 * Q

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