QUIZ 1 The market research department of a company recommended to management that the
company manufacture and market a promising product on the market. After extensive surveys, the
research departmeni backed up the recommendation with the demand equation;
x = f(p) = 6,000 – 30p
where x is the number of units that retailers are likely to buy per month at GHSp per unis. From the
finance department, the following cost equation was obtained:
C = g(x) = 72,000 + 60%
Assuming revenue equation is R = xp
(a) Find the profit equation equations in terms of p only.
(5 marks)
(b) Calculate the price (s) and the quantity demanded at which the company would break oven.
(6 marks)
(c) Ar what price does the company maximize prot?
15 marks)

2

step-by-step explanation:

70

step-by-step explanation:

5

step-by-step explanation:

region b will make the inequalities y < 2x + 1 and y > -x - 2 true ⇒ answer a

step-by-step explanation:

* lets study the graph and the inequality to solve the question

- the inequality y > -x - 2

∵ the form of the inequality is y > mx + c , m is the slope of the line

  and c is the y-intercept (the line intersect y-axis at point (0 , c)

∴ c = -2 that means the line intersect the y-axis at point (0 , -2)

∵ the sign of the inequality is >

∴ we shad the part over the line

  region a and b

- the inequality y < 2x + 1

∵ the form of the inequality is y > mx + c , m is the slope of the line

  and c is the y-intercept (the line intersect y-axis at point (0 , c)

∴ c = 1 that means the line intersect the y-axis at point (0 , 1)

∵ the sign of the inequality is <

∴ we shad the part under the line

  region b and c

∵ the common region between the two lines is region b

∴ region b will make the inequalities y < 2x + 1 and y > -x - 2 true