D. Read the problems below. Analyze and solve the problem carefully. 1. The cost in dollars, of producing x golf balls is given by: C(x) = 0.53x + 74 000 %3D The average cost per golf ball is given by C(x) 0.53x + 74 000 Č(x) : 1.1 Find the average cost per golf ball of producing a. 1 000 b. 10 000 с. 100 000 1.2. What is the equation of the horizontal asymptote of the graph of C ? Explain the significance of the horizontal asymptote as it relates to this application.

Economics:
10th Edition
ISBN:9781285859460
Author:BOYES, William
Publisher:BOYES, William
Chapter22: Supply: The Costs Of Doing Business
Section: Chapter Questions
Problem 14E
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D. Read the problems below. Analyze and solve the problem carefully.
1. The cost in dollars, of producing x golf balls is given by:
C(x) = 0.53x + 74 000
The average cost per golf ball is given by
C(x)
Č(x) =
0.53x + 74 000
1.1 Find the average cost per golf ball of producing
а.
1 000
b. 10 000
с.
100 000
1.2. What is the equation of the horizontal asymptote of the graph of C ? Explain the
significance of the horizontal asymptote as it relates to this application.
3
2. A clothing merchant uses the function S(x) =x+ 18, to determine the retail price, in Php, of a
pair of mittens for which she has paid a wholesale price of x pesos.
a. The merchant paid a wholesale price of Php 96 for a pair of mittens. Use S(x) to
determine the retail price she will charge for this pair of mittens.
b. Find S-1 and use it to determine the merchant's wholesale price for a mitten that retails
at Php 210.
3. The function defined by v(x)
= 3.8x converts a volume of x gallons into v(x) liters.
a. Find the equivalent volume in liters of 20 gallons of water.
b. Find the equation defining y as the inverse of v(x).
c. Use the inverse function in (b) to find the equivalent volume in gallons of a 50-liter cooking
oil.
Transcribed Image Text:D. Read the problems below. Analyze and solve the problem carefully. 1. The cost in dollars, of producing x golf balls is given by: C(x) = 0.53x + 74 000 The average cost per golf ball is given by C(x) Č(x) = 0.53x + 74 000 1.1 Find the average cost per golf ball of producing а. 1 000 b. 10 000 с. 100 000 1.2. What is the equation of the horizontal asymptote of the graph of C ? Explain the significance of the horizontal asymptote as it relates to this application. 3 2. A clothing merchant uses the function S(x) =x+ 18, to determine the retail price, in Php, of a pair of mittens for which she has paid a wholesale price of x pesos. a. The merchant paid a wholesale price of Php 96 for a pair of mittens. Use S(x) to determine the retail price she will charge for this pair of mittens. b. Find S-1 and use it to determine the merchant's wholesale price for a mitten that retails at Php 210. 3. The function defined by v(x) = 3.8x converts a volume of x gallons into v(x) liters. a. Find the equivalent volume in liters of 20 gallons of water. b. Find the equation defining y as the inverse of v(x). c. Use the inverse function in (b) to find the equivalent volume in gallons of a 50-liter cooking oil.
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