5.
Find the machine’s value in the year 2014.
a.
$251,000
b.
$305,500
c.
$329,000
d.
$274,500
e.
$384,000
f.
None of the above.

Math 1313
Homework 1
Section 1.5(1
st
Half)
Use the following problem to answer questions 6 – 8.
Your company sells phone chargers.
The fixed costs for your company are $50,500.
It costs
$2.48 to produce each phone cover and each sells for $14.65.
6.
What are the cost, revenue and profit functions?

2

7.
Compute the profit (loss) corresponding to production levels of 5,500 chargers.

8.
How many chargers must be produced and sold if you wish to make a profit of $45,389?
Round to the nearest whole number.

Use the following problem to answer questions 9 and 10.
The cost function for a company is C(x) = 27x + 320,000.
Each unit sells for $84.
9.
What is the profit function?
a.
P(x) = -57x + 320,000
b.
P(x) = 57x – 320,000
c.
P(x) = 84x – 320,000
d.
P(x) = 84x + 320,000
e.
P(x) = 57x
f.
None of the above.

10.
How many units must they produce and sell to make a profit of $136,000?