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Maths Applications of Calculus

The document contains 12 problems related to applications of calculus concepts like marginal revenue, marginal cost, total profit, break-even points, consumer surplus, producer surplus, total cost, average cost, and consumption functions. The problems involve determining these values given specific cost and demand/supply functions and other quantitative information provided.

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Fableeha Bushra Choudhury
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© Attribution Non-Commercial (BY-NC)
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Download as DOCX, PDF, TXT or read online on Scribd
32 views

Maths Applications of Calculus

The document contains 12 problems related to applications of calculus concepts like marginal revenue, marginal cost, total profit, break-even points, consumer surplus, producer surplus, total cost, average cost, and consumption functions. The problems involve determining these values given specific cost and demand/supply functions and other quantitative information provided.

Uploaded by

Fableeha Bushra Choudhury
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Problem Sheet -9

Applications of Calculus
1. Pritom Co. Ltd. suffers a loss of $121.50 if one of its special products does not sell. Marginal revenue is approximated by MR = 30 - 6x and marginal cost by MC = -24 + 3x. Determine the total profit function, the break-even points and the total profit between break-even points. 2. Determine consumer surplus and producer surplus under pure competition for the demand x2 2 function p 36 x and supply function p 6 where p is the price and x is the quantity. 4 3 3. If the marginal cost is given by MC = and fixed cost is $2, find the average cost for 4 3q 4
units of output.

4. If the marginal propensity to save is 1.5 0.2 x 2 , where x is the income. Find the consumption
function given that the consumption is $4.8 when income is $10.

5. Determine consumer surplus and producer surplus under pure competition for the demand 8 1 function p 2 and supply function p ( x 3) , where p is the price and x is the x 1 2 quantity. 3 6. Assume that the marginal cost in dollar is given by MC( x) 4 5 x 2 e x , where x is the 2
quantity produced. Find the total cost of production when x = 2, if fixed cost is $6.

7. The marginal cost of production of a firm is given as C (q) 5 0.13q. Further the marginal revenue is R(q) 18. Also it is given that C (0) $120. Compute the total profits.
3 8. Assume that the marginal cost in dollar is given by MC 4 5 x 2 e x , where x is the 2 quantity produced. Find the total cost of production when x 2 , if fixed cost is $6.

9. The marginal cost function of manufacturing x shoes is 6 10 x 6 x 2 . The total cost of producing a pair of shoes is $20. Find the total cost and the average cost function. 10. If the marginal propensity to consume is given by MPC = 1.50 0.20 x 2 , where x is the income. Find the total consumption function, given that C(10)= 4.80. 6 5, find the total 11. If the marginal revenue function for output is given by MR ( x 2) 2 revenue function and deduce the demand function. 12. The marginal cost of a firm given by MC 1.075 0.004x, where x is the number unit production. Find the total cost and the average cost function of the firm if the cost of producing 5 units is $81.5.

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