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Unit 14: Business Applications of Maxima and Minima

8. A tour operator charges 136 per passenger upto 100 passengers with a discount of 4 for Notes
each 10 passenger in excess of 100. Determine the number of passengers that will maximise
the amount of money the tour operator receives.
1 3
9. For a firm under perfect competition, the total cost function is given by C q
25
9 q 2 10q
10 12 . If the price of output is 4 per unit, will the firm continue production?
10. A firm has a revenue function given by R = 10x, where R is gross revenue and x is the
x 2
quantity sold; and a production cost function given by C = 1,00,000 50 1,000 . What is
the expression for the profit function p = R - C ? Find the rate of change of p w.r.t. x at x =
1,00,000 units.

Answers: Self Assessment

1. (d) 2. (a)
3. (a) 4. (d)
5. (b) 6. (a)
7. (d) 8. (c)

9. (a) 10. (a)
14.9 Further Readings

Books Husch, Lawrence S. Visual Calculus, University of Tennessee, 2001.
Smith and Minton, Calculus Early Trancendental, Third Edition, McGraw Hill 2008.

Online links http://www.suitcaseofdreams.net/Trigonometric_Functions.htm

http://library.thinkquest.org/20991/alg2/trigi.html
http://www.intmath.com/trigonometric functions/5 signs of trigonometric
functions.php

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