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**Unformatted text preview: **M1 1 9 Quiz 3 SHOW ALL WORK AND INCLUDE UNITS, EVEN FOR THE MULTIPLE
CHOICE! I) (3pts)The demand and supply curves for a certain product are given in terms of price,
p, by D(p) = 3200— 20;) and S(p) = 20p —1000
If a speciﬁc tax of $4 per unit is imposed on consumers, what is the equilibrium quantity? A 1 07 E3 1 060 C 1 100 D 1 03
none of the E above 2) A long lost relative dies and leaves you $50,000.
A) (3 pts) How much would you have after 10 years if you put the money in a bank account that pays 1.8% annually, compounded monthly? B) How long will it take for the money to grow to $1,000,000 at 10%
compounded continuously? Find both the exact answer with algebra (2pts) as well as approximate using your graphing calculator (show the graph, 2 pts). L ‘
M119: Quiz3 / Vgé) Name: ' AV
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2. Tag, “grafﬁti Intitiﬁf’f kg, m“ 9.9:;in ““3”" "(m y )C 1 NEWS? r . J L-: 3. ﬁx? : Ioiacox -— 709sz 7‘5 __.-— 4. 7 O nummaams % £2 Points will only be given for answers on the front page and there is no partial credit. Include units with all answers that have a unit (ex. 3 ft instead of 3) and label all
answers (ex x=3 instead of 3). A $275,000 tractor has a resale value of $50,000 twenty-ﬁve years after it is purchased.
Assuming the value depreciates linearly: (1) Find a formula for the value, V, of the tractor as a function of the time, t, since it
was purchased (2) Find and interpret the horizontal intercept in a full sentence .Ww
1-3 AV V
/3;,/ The production of the Bogus automobile requires ﬁxed costs of $700,000 and variable costs of $10,000 per automobile. The manufacture sells each automobile for $20,000.
(3) What is the proﬁt function? (4) Find the breakeven point. \ r f; 700; C360 4,. {@300 X (oowa
1 xﬁyo For the graph of f(x) above, label all intervals (6. g. AB,CE) where: (5) f(x) is increasing Min ‘3 (- (6) f(x) is concave up 5 C. 1 C9 Ifthe interval is not defined (doesn ’t have two letters to deﬁne it), DO NOT include it. ...

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