Functions Lecture PDF
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This document is a lecture on functions, outlining different types, such as constant, linear, and quadratic functions. It also covers break-even analysis, with example problems.
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Functions Y = f(x) x and y are called variables. The numerical value of the variable y is determined by that of the variable x. For this reason, y sometimes referred to as the dependent variable and x as independent variable. Break – even analysis X: the number of units manufactured an...
Functions Y = f(x) x and y are called variables. The numerical value of the variable y is determined by that of the variable x. For this reason, y sometimes referred to as the dependent variable and x as independent variable. Break – even analysis X: the number of units manufactured and sold The total cost function C(x) = fixed cost + variable cost The total revenue function R(x) = price*quantity sold The total profit function P(x) = total revenue – total cost It is clear that the company gets break – even when the profit is equal zero and that is occur when C(x) = R(x) Exercise A manufacturer can sell a certain product for 75 pounds per unit. Total costs consist of a fixed overhead of 210000 pounds plus production costs of 5 pounds per unit. 1-How many units must the manufacturer sell to break - even? 2-How many units must be sold for the manufacturer to realize a profit of 35000 pounds?
