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- 1. Multiple Choice
The Gidget Widget Corporation produces widgets. The fixed
expenses are $65,210, and the variable expenses are $4.22 per widget. Express the expense function algebraically.
- 2. Multiple Choice
A corporation produces mini-widgets. The variable expenses are $1.24 per mini-widget, and the fixed expenses are $142,900. How much does it cost to produce 1 mini-widget?
$142,901.24
$142,900
$142,902.48
$1.24
- 3. Multiple Choice
A corporation produces mini-widgets. The variable expenses are $1.24 per mini-widget, and the fixed expenses are $142,900. How much does it cost to produce 20,000 mini-widget?
$167,700
$142,900
Not enough information
$24,000
- 4. Multiple Choice
The expense function for the Wonder Widget is E = 4.14q + 55,789. What is the fixed cost in the expense function?
$4.14
$55,789
- 5. Multiple Choice
The expense function for the Wonder Widget is E = 4.14q + 55,789. What is the variable cost in the expense function?
$4.14
$55,789
- 6. Multiple Choice
Wind Up Corporation manufactures widgets. The monthly expense equation is E = 3.20q + 56,000. They plan to sell the widgets to retailers at a wholesale price of $6.00 each. What is the revenue equation?
R = 6.00q
R = 5.00q
R = 7.00 q
- 7. Multiple Choice
Wind Up Corporation manufactures widgets. The monthly expense equation is E = 3.20q + 56,000. They plan to sell the widgets to retailers at a wholesale price of $6.00 each. How many widgets must be sold to reach the breakeven point?
20,000
10,000
30,000
40,000
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