KING FAHD UNIVERSITY OF PETROLUEM AND MINERALS
Department of Mathematical Sciences
Math 131- Term 032
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Q1: A company manufacturer a product that has a unit selling price of $ 40 and a unit cost of $ 20. If fixed costs are $600000, determine the least number of units that must be sold for the company to have a profit.
Q2: Suppose a manufacturer of shoes will placed on the market 50 (thousand pairs) when the price is 35 $ per pairs and 35(thousand pairs) when the price is 30 $ per pairs. Find the supply equation, assuming that the price and quantity are linearly related.