Chapter 2: Problem 7
Solve the following equations for \(x\) : (a) \(3^{x}=7\) (b) \(5(2)^{x}=10^{x}\)
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Chapter 2: Problem 7
Solve the following equations for \(x\) : (a) \(3^{x}=7\) (b) \(5(2)^{x}=10^{x}\)
These are the key concepts you need to understand to accurately answer the question.
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The number of items, \(N\), produced each day by an assembly-line worker, \(t\) days after an initial training period, is modelled by $$ N=100-100 \mathrm{e}^{-0.4 t} $$ (1) Calculate the number of items produced daily (a) 1 day after the training period (b) 2 days after the training period (c) 10 days after the training period (2) What is the worker's daily production in the long run? (3) Sketch a graph of \(N\) against \(t\) and explain why the general shape might have been expected.
(Excel) The demand function of a good can be modelled approximately by $$ P=100-\frac{2}{3} Q^{n} $$ (a) Show that if this relation is exact then a graph of \(\ln (150-1.5 P)\) against In \(Q\) will be a straight line passing through the origin with slope \(n\). (b) For the data given below, tabulate the values of \(\ln (150-1.5 P)\) and \(\ln Q\). Find the line of best fit and hence estimate the value of \(n\) correct to 1 decimal place. \begin{tabular}{lllllll} \(Q\) & 10 & 50 & 60 & 100 & 200 & 400 \\ \hline\(P\) & 95 & 85 & 80 & 70 & 50 & 20 \end{tabular}
Given that fixed costs are 100 and that variable costs are 2 per unit, express \(\mathrm{TC}\) and \(\mathrm{AC}\) as functions of \(Q\). Hence sketch their graphs.
Solve the equation \(f(x)=0\) for each of the following quadratic functions: (a) \(f(x)=x^{2}-16\) (b) \(f(x)=x(100-x)\) (c) \(f(x)=-x^{2}+22 x-85\) (d) \(f(x)=x^{2}-18 x+81\) (e) \(f(x)=2 x^{2}+4 x+3\)
Given the quadratic supply and demand functions $$ \begin{aligned} &P=Q_{\mathrm{s}}^{2}+2 Q_{\mathrm{s}}+12 \\ &P=-Q_{\mathrm{D}}^{2}-4 Q_{\mathrm{D}}+68 \end{aligned} $$ determine the equilibrium price and quantity.
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