A firm has a linear cost function, where C(x) represents the total cost of producing x units of a good. We can expect th

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A Firm Has A Linear Cost Function Where C X Represents The Total Cost Of Producing X Units Of A Good We Can Expect Th 1 (38.15 KiB) Viewed 47 times

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A firm has a linear cost function, where C(x) represents the total cost of producing x units of a good. We can expect this cost function to have a Select all answers that are correct. constant positive negative increasing Question 12 Consider the following equation: y-100-3x. Which of the following pairs of variables could be represented by this equation? O a person's height and weight O the outside temperature and ice cream sales O a person's salary and years on the job O driving speed and time to destination slope. 4 pts

D Which of the following best represents a linear cost function? OCx)-80-7x OC) -100+2x O Cix) 4x-50 OC(x)=-3x-25 Question 14 Consider a function y-fix). How can we best define the slope of this function? Ox/y O change in y/ change in x O change in x/change in y Oy/k 4 pt

Consider the following equation: y 12+ 4x. Which of the following is true? Check all answers that are true. D This is an upward sloping linear equation. The two variables x and y are positively related. The two variables x and y are inversely related. This is a downward sloping linear equation. Question 16 Suppose the demand for a particular good is given by QD-140-5P, where QD represents the quantity demanded and P is the per unit price. Suppose the supply for a particular good is given by QS-20+3P, where QD represents the quantity demanded and P is the per unit price. If price is fixed at $9.00 then there is a shortage of how many units? Enter a number rounded to two decimal places as necessary. Question 17 A firm's revenue is given by Rix)- 14.82x, where x is the number of units sold A firm's cost is given by Cix) - 7.23x + 1,576. How many units must be sold for the firm to break even? Enter a number rounded to two decimal places. Do not enter any other characters. 4 pts 4 pts

Question 18 A firm has the following information about the cost of producing different amounts of its output. Cost Output $400 0 480 100 560 200 640 300 Given the information in the table: the fixed cost of production is $ the marginal cost of producing an additional unit is $ Enter numbers rounded to two decimal places as necessary. Do not enter fractions. Question 19 Each time the firm lowers the price of its good by $1. it is able to sell 4 more units. This is best represented by a Each time the firm lowers the price of its good by $1 it finds its sales increase by a larger amount than the previous time. This is best represented by a [Select] function. (Select) function

Suppose f(x)-2x+1. Find f(x + h). O 2x + 2h+1 02x+h+1 2x+2h+2 O 3x+h+1 Question 21 What can we say about the slope of a linear function? O it is increasing O it is a negative number O it is a positive number it is constant

Question 22 A firm produces a good and sells each unit of the good for a price p. Let x represent the number of units of the good sold in a given time period. Which of the following best represents the revenue earned from the sale of this good during the given time period? Let R(x) represent revenue. ⒸR(x)=x/p ORIX)-D+X ORGx)-p/x OR(x)-px Question 23. A line passes through the points (11, 19) and (26,501. What is the slope of the line? Enter a number rounded to two decimal places as necessary. Do not enter a fraction. 4 pts 4 pt

Question 24 Consider the equation y-50-5x. Which of the following is true? As the value of x increases from 2 to 4 to 6, the slope will remain the same. O As the value of x increases from 2 to 4 to 6, the slope will increase and then decrease. O As the value of x increases from 2 to 4 to 6, the slope will decrease. As the value of x increases from 2 to 4 to 6, the slope will increase. Question 25 Consider the following two equations: Equation A: y-100-4x Equation B: y-30+2x The demand curve is best represented by equation [Select] The supply curve is best represented by equation [Select]