A manufacturer sells a product for $18 per unit, selling all that is produced. Total costs are made up of fixed costs of $1100 and variable costs of $2.50 per unit.
- Find an expression for profit (𝜋).
- Find the break-even level of production (to the nearest unit).
- Find the break-even level of production if variable costs increase by 20%.
- Suppose the manufacturer can only sell at a price of $18 per unit when selling less than 500 units. For quantities above 500 units the price drops to $15 per unit. Write out a split revenue function (𝑟) that reflects this.
Another question
A university subject has three items of assessment – a quiz, an assignment and an exam. Suppose a student scored 4.5/10 on the quiz worth 25% and 72/90 on the assignment worth 35%. The remaining 40% weighting is for the exam. If this student would like to achieve a distinction (or 75%) mark overall in their subject, what mark do they require on their exam?