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Published on: 04/06/2021
QB365 provides detailed and simple solution for every Book back Questions in class 12 Business Maths Subject. It will helps to get more idea about question pattern in every book back questions with solution.
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Take MCQ Business Maths and Statistics Test

1.
A company requires f(x) number of hours to produce 500 units. It is represented by f (x) = 1800x−0.4. Find out the number of hours required to produce additional 400 units. [(900)0.6 = 59.22, (500)0.6 = 41.63]
2.
The demand equation for a products is x = \(\sqrt { 100-p } \) and the supply equation is x = \(\frac{p}{2}\) -10. Determine the consumer’s surplus and producer’s surplus, under market equilibrium.
3.
The marginal cost of production of a firm is given by C'(x) = 5 + 0.13x, the marginal revenue is given by R'(x) = 18 and the fixed cost is Rs. 120. Find the profit function.
4.
A firm’s marginal revenue function is MR = 20e-x/10 \(\left( 1-\frac { x }{ 10 } \right) \). Find the corresponding demand function.
5.
When the Elasticity function is \(\frac { x }{ x-2 } \). Find the function when x = 6 and y = 16.
1.
Given f(x) = 1800x-0.4
Since additional 400 units are required, the limits are from x = 500 to x = 900.
\(\therefore \int { f(x)dx } =\int _{ 500 }^{ 900 }{ 1800{ x }^{ -0.4 } } dx\)
\(=1800{ \left[ \frac { { x }^{ -0.4+1 } }{ -0.4+1 } \right] }_{ 500 }^{ 900 }\)
\(\\ =1800{ \left( \frac { { x }^{ 0.6 } }{ 0.6 } \right) }_{ 500 }^{ 900 }\)
\(\\ =3000{ \left( { x }^{ 0.6 } \right) }_{ 500 }^{ 900 }\)
= 3000( (900)0·6 - (500)0.6)
= 3000 (59.22 - 41.63)
[∵ (900)0·6 = 59.22 & (500)0·6 = 41.63]
= 3000(17.59)
= 52,770
Hence, 52,770 hours are required to manufacture additional 400 units.
2.
Given demand equation is \(x=\sqrt { 100-p } \) and
Supply equation is \(x=\frac { p }{ 2 } -10\)
At market equilibrium, \(\sqrt { 100-p } =\frac { p }{ 2 } -10\) Squaring both sides,
\(100-p={ \left( \frac { p }{ 2 } -10 \right) }^{ 2 }\)
\(\frac { { p }^{ 2 } }{ 4 } -10p+p=0\)
\(\frac { { p }^{ 2 } }{ 4 } -9p=0\)
\({ p }^{ 2 }-36p=0\)
p(p-36) = 0
p = 0 or p = 36
Since p cannot be zero, p = 36
\(\therefore \ { x }_{ 0 }=\sqrt { 100-36 } =\sqrt { 64 } =8\)
∴ p0x0 = 36 x 8 = 288
Given demand equation is \(x=\sqrt { 100-p } \)
X2 = 100-P(Squaring both sides)
p = 100-x2
Consumer's Surplus
\(CS=\int _{ 0 }^{ x }{ f(x) } dx-{ p }_{ 0 }{ x }_{ 0 }\)
\(CS=\int _{ 0 }^{ 8 }{ (100-{ x }^{ 2 }) } dx-288\)
\(={ \left[ 100x-\frac { { x }^{ 3 } }{ 3 } \right] }_{ 0 }^{ 8 }-288\)
\(=100(8)-\frac { { 8 }^{ 3 } }{ 3 } -288\)
\(=800-\frac { 512 }{ 3 } -288\)
\(=512-\frac { 512 }{ 3 } \)
\(=\frac { 1536-512 }{ 3 } \)
\(CS=\frac { 1024 }{ 3 } \)units
Supply equation is given as
\(x=\frac { p }{ 2 } -10\)
\(x=\frac { p-20 }{ 2 } \)
2x = p - 20
p = 2x + 20
∴ Producer's surplus
\(PS={ p }_{ 0 }{ x }_{ 0 }-\int _{ 0 }^{ x }{ g(x)dx } \)
\(=288-\int _{ 0 }^{ 8 }{ (2x+20)dx } \)
\(=288-{ \left( \frac { { 2x }^{ 2 } }{ 2 } +20x \right) }_{ 0 }^{ 8 }\)
\(=288-{ \left( { x }^{ 2 }+20x \right) }_{ 0 }^{ 8 }\)
= 288 - (82 + 20(8))
= 288 - (64 + 160)
= 288 - 224
PS = 64 units
3.
Given C'(x) = 5 + 0.13x
R'(x) = 18
Fixed cost is Rs. 120
C'(x) = 5 + 0.13x
⇒ ∫C'(x) = ∫(5+0.13x)dx
⇒ C(x) = 5x \(+\frac { 0.13{ x }^{ 2 } }{ 2 } +{ k }_{ 1 }\)
Since fixed cost is Rs.120 ⇒ k1 = 120
\(\therefore C(x)=5x+\frac { 0.13{ x }^{ 2 } }{ 2 } +120\) ...(1)
Also R'(x) = 18
⇒ ∫R'(x) = ∫18dx
⇒ R(x) = 18x+k2
When x = 0, R = 0 ⇒ k2= 0
∴ R(x) = 18x ...(2)
Profit function ⇒ P(x) = R(x) - C(x)
\(=18x-5x-\frac { 0.13{ x }^{ 2 } }{ 2 } -120\)
[from (1) & (2)]
P(x) = 13x-0.065x2-120
4.
Given marginal revenue function.
\(MR=\frac { DR }{ dx } =20{ e }^{ \frac { -x }{ 10 } }\left( 1-\frac { x }{ 10 } \right) \)
\(dR={ 20e }^{ \frac { -x }{ 10 } }\left( 1-\frac { x }{ 10 } \right) dx\)
\(R=\int { { 20e }^{ \frac { -x }{ 10 } } } \left( 1-\frac { x }{ 10 } \right) dx\)
We know that \(\int { { e }^{ ax }[af(x)+f'(x)]dx={ e }^{ ax }f(x) } +c\)
Here \(\\ a=\frac { -1 }{ 10 } ,f(x)=x,\quad f'(x)=1\)
\(R=20\int { { e }^{ \frac { -x }{ 10 } } } \left[ -\frac { 1 }{ 10 } x+1 \right] dx=20{ e }^{ \frac { -x }{ 10 } }x+k\)
\(\Rightarrow R=20{ e }^{ \frac { -x }{ 10 } }x+k\quad ...(1)\)
When x = 0, R = 0
0 = 0 + k ⇒ k = 0
(1) becomes
\(R=20x{ e }^{ \frac { -x }{ 10 } }\)
Demand function P
\(=\frac { R }{ x } =\frac { 20x{ e }^{ \frac { -x }{ 10 } } }{ x } \)
\(\Rightarrow P=20{ e }^{ \frac { -x }{ 10 } }\)
5.
\(\frac { { E }_{ y } }{ { E }_{ x } } =\frac { x }{ x-2 } \)
\(\frac { { xd }_{ y } }{ { yd }_{ x } } =\frac { x }{ x-2 } \)
\(\frac { dy }{ y } =\frac { x }{ x-2 } .\frac { dx }{ x } \)
\(\int { \frac { dy }{ y } } =\int { \frac { dx }{ x-2 } } \)
log y = log(x − 2) + log k
y = k(x–2)
when x = 6, y = 16 ⇒ 16 = k(6–2)
k = 4
y = 4 (x–2)
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