Concept explainers
CONSUMPTION FUNCTIONS A certain economy’s consumption function is given by the equation
where
Want to see the full answer?
Check out a sample textbook solutionChapter 1 Solutions
Finite Mathematics for the Managerial, Life, and Social Sciences
- Concentration of a Mixture A 1000-liter tank contains 50 liters of a 25brine solution. You add xliters of a 75brine solution to the tank. (a) Show that the concentration C, the proportion of brine to total solution, in the final mixture is C=3x+504(x+50). (b) Determine the domain of the function based on the physical constraints of the problem. (c) Sketch the graph of the concentration function. (d) As the tank is filled, what happens to the rate at which the concentration of brine is increasing? What percent does the concentration of brine appear to approach?arrow_forwardRevenue A manufacturer finds that the revenue generated by selling x units of a certain commodity is given by the function R(x)=80x0.4x2, where the revenue R(x) is measured in dollars. What is the maximum revenue? and how many units should be manufactured to obtain this maximum?arrow_forwardSize of High Schools The farm population has declined dramatically in the years since World War II, and with that decline, rural school districts have been faced with consolidating in order to be economically efficient. One researcher studied data from the early 1960s on expenditures for high schools ranging from 150 to 2400 in enrollment. He considered the cost per pupil as a function of the number of pupils enrolled in the high school, and he found the approximate formula C=7430.402n+0.00012n2 where n is the number of pupils enrolled and C is the cost, in dollars, per pupil. a. Make a graph of C versus n. b. What enrollment size gives a minimum per-pupil cost? c. If a high school had an enrollment of 1200, how much in per-pupil cost would be saved by increasing enrollment to the optimal size found in part b?arrow_forward
- Drug Concentration When a drug is administered orally, it takes some time before the blood concentration reaches its maximum level. After that time, concentration levels decrease. When 500 milligrams of procainamide is administered orally, one model for a particular patient gives blood concentration C, in milligrams per liter, after t hours as C=2.65(e0.2te2t) What is the maximum blood-level concentration, and when does that level occur?arrow_forwardProfit The demand equation for a microwave oven is given by p=1400.0001x, where p is the unit price (in dollars) of the microwave oven and x is the number of units sold. The cost equation for the microwave oven is C=80x+150,000, where C is the total cost (in dollars) and x is the number of units produced. The total profit P obtained by producing and selling x units is modeled by P=xpC. (a) Find the profit function P in terms of x. (b) Find the profit when 250,000 units are sold. (c) Find the unit price when 250,000 units are sold. (d) Find (if possible) the unit price that will yield a profit of 10 million dollars. If not possible, explain why.arrow_forwardReaction Rates In a chemical reaction, the reaction rate R is a function of the concentraton of the product of the reaction. For a certain second-order reaction between two substances, we have the formula R=0.01x2x+22. Here x is measured in moles per cubic meter and R is measured in moles per cubic meter per second. a. Make a graph of R versus x. Include concentrations up to 100 moles per cubic meter. b. Use functional notation to express the reaction rate when the concentration is 15 moles per cubic meter, and then calculate hat value. c. The reaction is said to be in equilibrium when the reaction rate is 0. At what two concentratoins is the reaction in equilibrium?arrow_forward
- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageFunctions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning
- Trigonometry (MindTap Course List)TrigonometryISBN:9781337278461Author:Ron LarsonPublisher:Cengage LearningCollege AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningAlgebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning