MAT10706 Quantitative Methds with Economics Project Assignment

MAT10706 QUANTITATIVE METHDS WITH ECONOMICS
PROJECT ASSIGNMENT
Student Name
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Question 1
1) Type 1- Chrome Catalyst Engine Parts
Fixed production costs = $ 4000
Unit variable costs = 876 + 65 = $941
Estimated unit sale price = $ 1,100
Total cost function = 4000 + 941 B
Revenue Function = 1100 B
Type 2- Platinum Power Engine Parts
Fixed production costs = $ 4000
Unit variable costs = 1228 + 65 = $1293
Estimated unit sale price = $ 1,500
Total cost function = 4000 + 1293B
Revenue Function = 1500 B
1

Type 3- Silver Streak Engine Parts
Fixed production costs = $ 4000
Unit variable costs = 1024 + 65 = $1089
Estimated unit sale price = $ 1,300
Total cost function = 4000 + 1089B
Revenue Function = 1300 B
2