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# I.

Finding Lines
A.

Review Example
1.

## Fine equation of line through (-2,-1) and (2,-3)

a)
plug in point to find b

b)
c)

II.

A.

|OR|

1.
a)
b)

B.

## m = the marginal cost or the incremental cost per item

b = the fixed cost

1.

( )
a)

C.

( )

|OR| ( )

1.
2.
3.

( )

( )

## If profit is negative, then it means there is a loss

Break even means to make neither a profit nor a loss
a)

( )

|OR|

( )

( )

D.
Demand Function expresses demand q (the # of items demanded) as a
function of the unit price p (the price per item)
1.

( )
a)
b)

## b = quantity demanded if price is free

E.
Supply Function expresses supply q (the # of items a supplier is willing to
make available) as a function of the unit price p (the price per item)
1.

2.
3.

F.

1.

G.

## b = quantity supplied if price is free

Usually as p increases then q decreases

Examples

1.
You can sell 90 pet chias per week if they are sold for \$1 each, but only
30 each week if they are marked at \$2 per chia. Your chia supplier is prepared to
sell you 20 chias each week if they are marked at \$1 per chia and 100 each week
if they are marked at \$2 per chia. Write down the associated demand and
supply functions assuming both are linear. At what price should the chias be
marked so that there is neither a surplus nor a shortage of chias? (equilibrium
price)
a)

demand function

## (1,20) and (2,100)

supply function

b = -60

b)
5

equilibrium price
2.
all occasions. Suppose you are currently selling 150 cakes each month at \$30
each. You speculate that raising your price by \$1 will result in 5 fewer sales. Use
the given info to formulate a demand function, expressing the number of cakes
sold as a function of the price. Find the price that would result in selling no cakes
at all. Suppose that the raw materials for each cake cost you \$14 and that your
price and find the price that will result in the highest possible profit.
a)

## (30,150) and (31, 145)

5
3

5(3 )

()

b)

c)

III.

Exponents
A. Law of Exponents
1.
2.
3.

B.

4.
5.
6.
7.

(
(
(

8.

( )

( )

Compound Interest
1.

Compound Interest
a)

2.

( )

( )

Logs
1.
2.

## Continuous Compounded Interest

a)

V.

Exponential Function
1.

IV.

)
)

Log Rules
a)