Same chapter3 marksDifficulty: Medium
The total cost of producing x units is C(x) = 2x2 + 10x + 50 and the revenue is R(x) = 40x. Find the level of output at which the profit is greatest.
Application of Calculus in Commerce and Economics
3 marksDifficulty: Medium
Define the break-even point and the elasticity of demand.
Original Khojo Papers practice question — not from a past board paper.
Answer
The break-even point is the level of output at which total revenue equals total cost, so the profit is zero. The elasticity of demand is the ratio of the proportionate change in quantity demanded to the proportionate change in price, given by −(p/x)(dx/dp).
No citable source has been recorded for this record. Treat it as practice material, not as fact.
Explanation
Demand is called elastic when the elasticity exceeds one and inelastic when it is less than one.
Related questions
From the same topic and chapter, at a similar level.
Same chapter3 marksDifficulty: Medium
The demand function is x = 100 − 2p. Find the elasticity of demand when p = 20.
Application of Calculus in Commerce and Economics
Same chapter3 marksDifficulty: Medium
If the total cost function is C(x) = 0.5x2 + 20x + 100, find the marginal cost when x = 10.
Application of Calculus in Commerce and Economics
Same chapter3 marksDifficulty: Medium
If the demand function is p = 50 − 2x, find the marginal revenue when x = 5.
Application of Calculus in Commerce and Economics
Same subject3 marksDifficulty: Medium
If A = [[1, 2], [3, 4]] and B = [[0, 1], [1, 0]], find AB and BA and state whether they are equal.
Matrices
Same subject3 marksDifficulty: Medium
Find the projection of a = 2i + 3j + 2k on b = i + 2j + k.
Vectors