Quick Maths Help!

[Jackass]

Hi,

Firstly, I browsed the charter about this, as I'm not requesting anyone do my "homework" (I'm 3rd level student ) but haven't looked at maths in quite a while and just need to get my head around some sample questions we have. (for what it's worth, lecturer is very poor, flies through the stuff and is beyond unapproachable.)

Ok, so the first two I'm going to paste in, I genuinely have no idea how to solve these and can find nothing in my notes, so could someone give me a quick idea where to start please? (these are basic enough, I know, hence my worry at not being able to figure them out on my own...) and maybe let me know how you came about your answer?

A man demands 2 martinis when the price per martini P = €5, and only demands 1 martini when the price per martini P = €10 . Then the demand function D = a + bP can be written as
Answer:
a. D = 3 + 1/5 P
b. D = 3 – 1/5 P
c. D = 1 – 5P
d. D = 1/5 - 3P
e. There is not enough information to derive the demand function

Charity Organisation gets €50,000 each year from an anonymous patron. The remaining income must be raised, and is a linear function of the number of events organised E. The slope of the function relating total income to the number of events organised is 10,000. Last year a total of 30 events were organised countrywide. As a result the Charity had a total annual income of
Answer
a. €60,000
b. €60,030
c. None of these
d. €160,000
e. €300,000

and lastly,

If a linear function can be written as y = 5 - x, which of the following statements are TRUE:
Answer
a. the slope of the function is 5 and the intercept is -1
b. the intercept of the function is 5, and the function is upward sloping
c. the slope of the function is -1, and the intercept of the function is 0
d. the intercept of the function is 5, and the function is downward sloping
e. none of these

I would be extremely greatfull if someone took the time to look at these and explain how to calculate them, or where to begin on one of them, and also some oneline sources or books you may know relevant to these kind of maths, as clearly I have a lot of studying to do....

Thank you so much for your help...

apoeiguq3094y

[Jackass] wrote: »

Hi,

Firstly, I browsed the charter about this, as I'm not requesting anyone do my "homework" (I'm 3rd level student ) but haven't looked at maths in quite a while and just need to get my head around some sample questions we have. (for what it's worth, lecturer is very poor, flies through the stuff and is beyond unapproachable.)

Ok, so the first two I'm going to paste in, I genuinely have no idea how to solve these and can find nothing in my notes, so could someone give me a quick idea where to start please? (these are basic enough, I know, hence my worry at not being able to figure them out on my own...) and maybe let me know how you came about your answer?

A man demands 2 martinis when the price per martini P = €5, and only demands 1 martini when the price per martini P = €10 . Then the demand function D = a + bP can be written as
Answer:
a. D = 3 + 1/5 P
b. D = 3 – 1/5 P
c. D = 1 – 5P
d. D = 1/5 - 3P
e. There is not enough information to derive the demand function

Charity Organisation gets €50,000 each year from an anonymous patron. The remaining income must be raised, and is a linear function of the number of events organised E. The slope of the function relating total income to the number of events organised is 10,000. Last year a total of 30 events were organised countrywide. As a result the Charity had a total annual income of
Answer
a. €60,000
b. €60,030
c. None of these
d. €160,000
e. €300,000

and lastly,

If a linear function can be written as y = 5 - x, which of the following statements are TRUE:
Answer
a. the slope of the function is 5 and the intercept is -1
b. the intercept of the function is 5, and the function is upward sloping
c. the slope of the function is -1, and the intercept of the function is 0
d. the intercept of the function is 5, and the function is downward sloping
e. none of these

I would be extremely greatfull if someone took the time to look at these and explain how to calculate them, or where to begin on one of them, and also some oneline sources or books you may know relevant to these kind of maths, as clearly I have a lot of studying to do....

Thank you so much for your help...

3rd one - http://www.mathsisfun.com/equation_of_line.html

also applies to second one actually

first one - it says D=2, and P= 5 in one instance
and in another D=1 and P=10

these values only satisfy one of the 4 equations listed substitute in teh values and see which one works.

[Jackass]

Thanks a million for that

[Jackass]

Uggh, have another maths problem I can't solve, need to have it submitted by midnight tonight... could a kind soul PLEASE point me in the right direction, thanks, I really appreciate it...


A firm with total costs TC = 50 + 3Q for Q units of output, which sells its output Q at price P = 5, breaks even earning zero profit at the output level
Answer
A. Q = 25
B. Q = 45/3
C. None of these
D. Q = 65
E. Q = 50/3

wonderboysam

trev?

**Timbuk2**

I think how you'd solve that is by noting

For break-even (zero profit), Total Costs = Total Sales.

Total Sales is Price x Quantity Sold = 5Q

There 5Q = 50 + 3Q
2Q = 50
Q = 25

But I'm not sure if that is right!

freeze4real

[Jackass] wrote: »

Uggh, have another maths problem I can't solve, need to have it submitted by midnight tonight... could a kind soul PLEASE point me in the right direction, thanks, I really appreciate it...

thats not maths it more of economics.

What timbuk2 did seems right to me.