Q: 1). An insurance company claims that for x thousand policies, its monthly revenue in dollars is given by R(x)=150x and its monthly cost in dollars is given by c(x)=120x+7200.
a. find the break even point.
b.Graph the revenue and cost equations on the same axes
c. Estimate the revenue and cost when x=120.
Q.2) The national demand and price for a certain type of energy-efficient exhaust fan are related by p=480-4/5q, where p is the price(in dollars) and q is the demand (in thousands). The price and supply of the exhaust fans are related by p=2/5q, where p is the price and q is the supply of exhaust fans. Find the price for a demand of 135,000 exhaust fans. The price is $
a.Find the price for demand of $135,000 exhaust Fans.
b.Find the demand of exhaust fans at a price of $96.
c.Find the supply when the price is $224.
d.Graph P=480-4/5q and P=2/5q on same set of axes "make sure you number the graph"
e.Find the equilibrium quantity.
f.Find the equilibrium price.