Modeling a Business

Where the graphs of supply and demand functions intersect the market is in equilibrium?

• True
• False

Jeff prepares meals in the home of his customers. His fixed cost for transportaiton and supplies $14.50. The labor and groceries needed for each family meal is $8.80, so the expense function is E = 5.7q +8.8.

• True
• False

Is this an expense or revenue function?
y = -5x + 25

• Revenue
• Expense

A correlation coefficient can be positive or negative, but it cannot be less than -1?

• True
• False

The markup for a cutting board is $4. The cutting board costs $3 to manufacture. The percentage of markup is  ______.

• 133%
• 75%
• 43%
• 7%

A cactus garden has an expense equation of E = 4q + 10. The average cost per cactus when 10 cactus are used is ______?

• $4
• $5
• $6
• $50

The price that a manufacturer charges a retailer for an item is the  ________ price.

• original
• retail
• wholesale
• sales

The cost for postage and packaging are examples of fixed expenses.

• True
• False

The profit function is
P = -5x^2 + 50x 
What is the maximum profit? 

• $100
• $150
• $200
• $500

The expense and revenue function are given for selling birria.
E = 2x+100
R = 6x
What is the break-even point?

• 15
• 20
• 25
• 50