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CHAPTER 2: FUNCTIONS 1
EXTRA QUESTIONS

1. Given: f x   2 x  4 , g x   x 2 and hx  4x  3 .

i) Evaluate g 2 f 3 .
f x 
ii) Find the domain of .
h x 

h 1
iii) Solve x   1 .
g

2. A manufacturer of water filters, has a monthly fixed cost of $20,000, a production cost of
$20 per unit, and a selling price of $30 per unit.
i) Find the cost function and revenue functions.
ii) Find the profit function.
iii) Find the break-even point.
iv) Sketch the cost functions and revenue functions on a same diagram showing the
break-even point.
v) If 3000 water filters are sold, explain what happens.

3. The quantity demanded of the Sentinal iPod alarm clock is 48,000 units when the unit price
is $8. At $12 per unit, the quantity demanded drops to 32,000 units.
i) Find the demand function.
ii) What is the unit price corresponding to a quantity demanded of 40,000 units?
iii) What is the quantity demanded if the unit price is $14?

4. A manufacturer has a monthly fixed cost of $40,000 and a production cost of $8 for each
unit produced. The product sells for $144 per dozen.
i) What is the cost function?
ii) What is the revenue function?
iii) What is the profit function?

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iv) Compute the profit (or loss) if 8000 and 12000 units are sold.
v) Find the break-even point.
vi) Sketch the cost functions and revenue functions on a same diagram clearly labelling
the corresponding functions and break-even point.

5. A manufacturer has a monthly fixed cost of $100,000 and a production cost of $15 for each
unit produced. A thousand units are sold for $20000.
i) What is the profit function?
ii) Find the break-even point.
iii) Sketch the profit function clearly label the break-even point.

6. At a unit price of $55, the quantity demanded of a certain commodity is 1000 units. At a
unit price of $75, the demand drops to 600 units.
i) Find the demand equation.
ii) What is the price will there be no demand?
iii) What quantity would be demanded if the commodity were free?

7. Producers will make 3000 refrigerators available when the unit price is $330. At a unit
price of $390, 6000 refrigerators will be produced.
i) What is the supply function?
ii) How many refrigerators will be marketed when the unit price is $450?

8. The quantity demanded of a certain model of DVD player is 8000 units when the unit price
is $240. At a unit price of $200, the quantity demanded increases to 10,000 units. The
manufacturer will not market any players if the price is $100 or lower. However, for each
$50 increase in the unit price above$100, the manufacturer will market an additional 1000
units. Both the demand and the supply functions are known to be linear.
i) Find the demand function.
ii) Find the supply function.
iii) Find the equilibrium quantity and price.

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iv) Sketch the demand and supply functions on a same diagram clearly labelling the
equilibrium point.
v) When the price is $350 and $150 explain what happens.

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ANSWERS

1. f x   2 x  4 , g x   x 2 and hx  4x  3 .

i) g 2 f 3  4 .
3
ii) x  2| x   Domain : x  2
4
3
iii) x  1, x   .
4

2.
i) C ( x)  20000  20 x | R( x)  30 x
ii) P( x)  10 x  20000

iii) 2000,60000 
iv) Graph

v) There will be a profit of $10,000.

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i) D p  4000 p  80000
ii) p  $10

iii) D p  24000units
4.
i) Cx  40000  8x
ii) Rx   12 x
iii) Px  4x  40000
iv) A loss of $8000 if 4000 units are sold | A profit of $8000 if 12000 units are sold.
v) Breakeven = 10000,120000 
vi) Graph

5.
i) Px  5x  100000
ii) Breakeven = 20000 ,400000 

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iii) Graph.

Breakeven, P = 0
X

-100000

6.
i) D p   20 p  2100
ii) p  $105
iii) When demand  2100 units
7.
i) S  p  50 p  13500
ii) Supply = 9000 units

8.
i) D p  50 p  20000
ii) S  p   20 p  2000
iii) Equilibrium quantity = 4286 units | Equilibrium price = $314.29

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iv) Graph

v) When p  350 | S  p  5000 D p  2500  S  D  Surplus

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