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14111cwir1ws.1

14111cwir1ws.1 - • Cost Function C x = cx F • Revenue...

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c ± Kendra Kilmer August 31, 2011 Fall 2011 Week-in-Review #1 courtesy: Kendra Kilmer (covering Sections 1.3-1.5) Sections 1.3, 1.4 slope of a line: m = y 2 - y 1 x 2 - x 1 Equations of Lines Point-Slope Form: y - y 1 = m ( x - x 1 ) Slope-Intercept Form: y = mx + b Horizontal Line through ( a , b ) is y = b Vertical Line through ( a , b ) is x = a Linear Depreciation: ( t , V ) where t is time and V is book value Linear Supply and Demand Curves: ( x , p ) where x is the quantity and p is the unit price Market Equilibrium: the point at which the consumers and suppliers agree upon (intersection point of the supply and demand curves) Linear Cost, Revenue, and Proﬁt Functions
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Unformatted text preview: • Cost Function: C ( x ) = cx + F • Revenue Function: R ( x ) = sx • Proﬁt Function: P ( x ) = R ( x )-C ( x ) • Break-Even Point: Intersection of the Cost and Revenue Functions 1. Find the equation of the line that passes through the point (-2 , 6 ) and (a) has a slope of 2 / 5. (b) has a slope of 0. (c) has an undeﬁned slope. 2. Given 2 x-7 y = 8, (a) What is the slope of the line? (b) As x increases, does y increase or decrease? (c) If x increases by 14 units, what is the corresponding change in y ? 1...
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