ECON 1003 - Graded Tutorial 1 (10%)

(Due 5th Oct 2017)

Late Submission Deadline 7th Oct 2017 (1% deduction)
Functions and Equations SOLUTION

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Question 1
The cost of producing x fruit rolls at Mickie’s Bakery is given by the function
C(x) = 2x + 300.

i. What does the variable x represent in the function C(x)?

The variable x represents the amount of fruit rolls produced.

ii. Find a formula for C−1 (x).

Writing C(x) as an equation

y = 2x + 300
Interchanging x and y
x = 2y + 300
Solving for y, we get
x − 300
y=
2
x − 300
Hence, C −1 (x) =
2

iii. What does the variable x represent in the function C−1 (x)?
The variable x in the function C−1 (x) represents the cost of producing fruit rolls

iv. What does the output of C−1 (x) represent?

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 The output of C −1 (x) represents the number of fruit rolls produced for a given cost.

v. Determine the cost of producing 100 fruit rolls.

C(100) = 2x + 300
= 2(100) + 300
= $500

vi. Determine the number of fruit rolls that can be produced for $430.
430 = 2x + 300
2x = 130
x = 65
65 fruit rolls

Question 2

The revenue from the sale of a product is given by R = − x 3 − 5x 2 + 250x

When 10 units are sold the total revenue of $1000. Find another amount of units that can be
sold to give $1000 in revenue.
10 −1 −5 250 −1000

−10 −150 1000

−1 −15 100 0

Given that − x 2 − 15x + 100 is the quadratic factor

− x 2 − 20x + 5x + 100

−x(x + 20) + 5(x + 20)

(−x + 5)(x + 20) are its linear factors

Another amount of units that can be sold to give $1000 in revenue will be 5 units.

Question 3

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 i. Write the equation of the line passing through point (2,3) that is perpendicular to
equation y + 2x = 7.
Using y = mx + c
1
3= (2) + c
2
3= 1+c
c=2
1
y= x + 2 is the line perpendicular to equation y + 2x = 7
2

ii. Write the equation below in standard form.

y 1
− 3x =
2 5
Writing in standard from
y 1
− 3x =
2 5
Multiplying by − 10, we get
30x − 5y = −2
.

Question 4
Solve the equation 3(1 − y)2 + 5(1 − y) = −2.
To find 3(1 − y)2 + 5(1 − y) = −2
Let x = 1 − y
3x 2 + 5x + 2 = 0
3x 2 + 3x + 2x + 2 = 0
3x(x + 1) + 2(x + 1) = 0
(3x + 2)(x + 1) = 0
2
x=− or x = −1
3
2 2
When x = − , ⇒ − = 1 − y
3 3
5
y=
3

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 When x = −1, ⇒ −1 = 1 − y
y=2

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