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- For the following exercises, consider this scenario: The number of people afflicted with the common cold in the winter months steadily decreased by 205 each year from 2005 until 2010. In 2005, 12,025 people were afflicted. When will the output reach 0?When hired at a new job selling electronics, you aregiven two pay options: • Option A: Base salary of $10,000 a year with acommission of 9% of your sales • Option B: Base salary of $20,000 a year with acommission of 4% of your sales How much electronics would you need to sell foroption A to produce a larger income?For the following exercises, consider this scenario: A town has an initial population of 75,000. It grows at a constant rate of 2,500 per year for 5 years. When will the output reached 100,000?
- What does the fish population of the lake approach in the long run?Paul's firm produces the same good as Sal's firm. The total cost of producing qp units in Paul's firm is Cp( qp ) = 8.6 qp + 1.1. The total cost of producing qs units in Sal's firm is Cs( qs ) = 8.6 qs + 1.1. What is the efficiency loss if each person's firm produces half of a total of 523 units?A hockey team plays in an area with a seating capacity of $15,000 spectators. With the ticket price set at $12, average attendance at a game has been 11,000. A market survey indicates that for each dollar the ticket price is lowered, average attendance will increase by 100. How should the owners of the team set the ticket price to maximize their revenue from ticket sales?
