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Business Math 1 Assignment

This document provides 5 questions as an assignment in business math. [1] The first question involves calculating the break-even point for a publisher in terms of number of books that must be sold based on fixed and variable costs. [2] The second question involves calculating the value of a house in 1960 given its 2016 value and a CPI index. [3] The third question involves calculating retail and wholesale prices based on a given markup percentage. [4] The fourth and fifth questions involve using supply and demand equations to find the equilibrium point and graphing the relationships.

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55 views2 pages

Business Math 1 Assignment

This document provides 5 questions as an assignment in business math. [1] The first question involves calculating the break-even point for a publisher in terms of number of books that must be sold based on fixed and variable costs. [2] The second question involves calculating the value of a house in 1960 given its 2016 value and a CPI index. [3] The third question involves calculating retail and wholesale prices based on a given markup percentage. [4] The fourth and fifth questions involve using supply and demand equations to find the equilibrium point and graphing the relationships.

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hxhhd052
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Business Math 1

ASSIGNMENT NO 1
Deadline: 05
October ,Thursday 11:00
PM

Solve the questions.


1. Break-even analysis. A publisher for a promising new novel figures fixed costs
(overhead, advances, promotion, copy editing, typesetting) at $55,000, and
variable costs (printing, paper, binding, shipping) at $1.60 for each book produced.
If the book is sold to distributors for $11 each, how many must be produced and
sold for the publisher to break even?
2. Home values. If the price change in houses parallels the CPI (see Table 2 in
Example 10), what would a house valued at $200,000 in 2016 be valued at (to the
nearest dollar) in 1960.
3. Retail and wholesale prices. Retail prices in a department store are obtained by
marking up the wholesale price by 40%. That is, the retail price is obtained by
adding 40% of the wholesale price to the wholesale price. (A) What is the retail
price of a suit if the wholesale price is $300? (B) What is the wholesale price of a
pair of jeans if the retail price is $77?
4. Supply and demand. At a price of $9.00 per bushel, the supply of soybeans is
3,600 million bushels and the demand is 4,000 million bushels. At a price of $9.50
per bushel, the supply is 4,100 million bushels and the demand is 3,500 million
bushels.

(A) Find a price–supply equation of the form p = mx + b.

(B) Find a price–demand equation of the form p = mx + b.

(C) Find the equilibrium point.

(D) Graph the price–supply equation, price–demand equation, and equilibrium point in the
same coordinate.
5. Supply and demand. At a price of $3.20 per bushel, the supply of corn is 9,800 million
bushels and the demand is 9,200 million bushels. At a price of $2.95 per bushel, the supply
is 9,300 million bushels and the demand is 9,700 million bushels.

(A) Find a price–supply equation of the form p = mx + b.

(B) Find a price–demand equation of the form p = mx + b.

(C) Find the equilibrium point.

(D) Graph the price–supply equation, price–demand equation, and equilibrium point in the
same coordinate system. 87.

GOOD LUCK

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