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If the function P is graphed, find and interpret the slope of the function.

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When will the output reached 100,000?

Ten years after the model began.

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What is the output in the year 12 years from the onset of the model?

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For the following exercises, consider this scenario: The weight of a newborn is 7.5 pounds. The baby gained one-half pound a month for its first year.

Find the linear function that models the baby’s weight W as a function of the age of the baby, in months, t .

W ( t ) = 7 . 5 t + 0. 5

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Find a reasonable domain and range for the function W .

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If the function W is graphed, find and interpret the x - and y -intercepts.

( 15 , 0 ) : The x -intercept is not a plausible set of data for this model because it means the baby weighed 0 pounds 15 months prior to birth. ( 0 ,  7 . 5 ) : The baby weighed 7.5 pounds at birth.

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If the function W is graphed, find and interpret the slope of the function.

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When did the baby weight 10.4 pounds?

At age 5.8 months.

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What is the output when the input is 6.2? Interpret your answer.

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For the following exercises, consider this scenario: The number of people afflicted with the common cold in the winter months steadily decreased by 205 each year from 2005 until 2010. In 2005, 12,025 people were afflicted.

Find the linear function that models the number of people inflicted with the common cold C as a function of the year, t .

C ( t ) = 12 , 025 205 t

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Find a reasonable domain and range for the function C .

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If the function C is graphed, find and interpret the x - and y -intercepts.

(58.7, 0) : In roughly 59 years, the number of people inflicted with the common cold would be 0. (0,12,025) : Initially there were 12,025 people afflicted by the common cold.

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If the function C is graphed, find and interpret the slope of the function.

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When will the output reach 0?

2064

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In what year will the number of people be 9,700?

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Graphical

For the following exercises, use the graph in [link] , which shows the profit, y, in thousands of dollars, of a company in a given year, t, where t represents the number of years since 1980.

Graph of a line from (15, 150) to (25, 130).

Find the linear function y , where y depends on t , the number of years since 1980.

y = 2 t +180

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Find and interpret the y -intercept.

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Find and interpret the x -intercept.

In 2070, the company’s profit will be zero.

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Find and interpret the slope.

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For the following exercises, use the graph in [link] , which shows the profit, y , in thousands of dollars, of a company in a given year, t , where t represents the number of years since 1980.

Graph of a line from (15, 150) to (25, 450).

Find the linear function y , where y depends on t , the number of years since 1980.

y = 30 t 300

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Find and interpret the y -intercept.

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Find and interpret the x -intercept.

(10, 0) In 1990, the profit earned zero profit.

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Find and interpret the slope.

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Numeric

For the following exercises, use the median home values in Mississippi and Hawaii (adjusted for inflation) shown in [link] . Assume that the house values are changing linearly.

Year Mississippi Hawaii
1950 $25,200 $74,400
2000 $71,400 $272,700

In which state have home values increased at a higher rate?

Hawaii

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If these trends were to continue, what would be the median home value in Mississippi in 2010?

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Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Source:  OpenStax, Precalculus. OpenStax CNX. Jan 19, 2016 Download for free at https://legacy.cnx.org/content/col11667/1.6
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