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    Excel 3 Review Topic 1

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    cjmimoun

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    Excel 3 Review Topic 1

    Uploaded by

    cjmimoun
    1 views8 pages

    Copyright

    © © All Rights Reserved

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    XLSX, PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    1 views8 pages

    Excel 3 Review Topic 1

    Uploaded by

    cjmimoun

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 8

    The demand function for a good is given by the equation:

    P = 4000 - 0.5Q

    i) Plot the demand function


    ii) Calculate the price elasticity of demand for Q = 4500 to Q = 1500 at intervals of 50
    iii) State the value of Q for which this product has unit elastic
    iv) State the range of values for Q for which demand is elastic and inelastic.

    Q 4500 4000 3500


    P 1750 2000 2250
    ed = (-1/b)*(P/Q) -0.77777778 -1 -1.28571429

    For the same product, the supply function is given by the equation:

    P = 200 + 0.33Q

    v) Find the equilibrium point.


    vi) Perform the graphical analysis and interpret it.

    Q 4500 4000 3500


    P = 4000 - 0.5Q 1750 2000 2250
    P = 200 + 0.33Q 1685 1520 1355
    EXCEL: REVIEW TOPIC 1

    4500 to Q = 1500 at intervals of 500.


    P
    3500
    d is elastic and inelastic.
    3000

    2500
    3000 2500 2000 1500
    2500 2750 3000 3250 2000
    -1.66666667 -2.2 -3 -4.33333333
    1500

    1000

    500

    0
    1000 1500 2000 2500 3000

    3000 2500 2000 1500


    2500 2750 3000 3250 Chart Tit
    1190 1025 860 695 Row 30
    3500

    3000

    2500

    2000

    1500

    1000

    500

    0
    1000 1500 2000 2500 3000
    P

    2000 2500 3000 3500 4000 4500 5000

    Chart Title
    Row 30 Row 31

    2000 2500 3000 3500 4000 4500 5000


    E

    A company producing a good has fixed costs being 40000 and variable co
    charges 2000 for each godd sold.

    i) Find TC, TR and profits for the the below values of Q presen

    Q 0 20
    TC 40000 240000
    TR=40000+1000Q TR 0 40000
    TR= P*Q=2000Q Profit -40000 -200000
    P=TR-TC

    ii) Plot TC, TR and profit function in the same diagram.

    iii) By looking at the diagram, at which level of Q the company

    iv) Find TC and TR when Q = 45

    v) State the range of values of Q for which the company is mak

    Chart Title
    1500000

    1000000

    500000

    0
    0 20 40 60 80 100 120

    -500000

    -1000000

    Row 12 Row 13 Row 14


    EXCEL: REVIEW TOPIC 1

    sts being 40000 and variable costs are 1000 per good produced. Additionally, the company

    he the below values of Q presented in the table

    40 60 80 100
    440000 640000 840000 1040000
    80000 120000 160000 200000
    -360000 -520000 -680000 -840000

    on in the same diagram.

    t which level of Q the company is at the BEP.

    Q for which the company is making profits and losses.

    0 1 2 3 4
    -10 -8 -6 -4 -2
    Q=2P-10

    Chart Title
    15

    10

    0
    0 2 4 6 8

    -5

    -10
    5

    0
    0 2 4 6 8

    -5

    -10

    -15
    5 6 7 8 9 10
    0 2 4 6 8 10

    Chart Title

    4 6 8 10 12
    4 6 8 10 12

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