Semester Terminal Exams (STE) For Semester Autumn 2020
BA (Renamed as Associate Degree) Program Autumn 2020
Code No 1429 Business Mathematics Paper STE 2020 free download AIOU
Ø An
economist believes there is a linear relationship between the market price of a
particular commodity and the number of units suppliers of the commodity are
willing to bring to the marketplace. Two sample observations indicate that when
the price equals$15 per unit, the weekly supply equals 30,000 units; and when
the price equals $20 per unit, the weekly supply equals 448,000 units.
(I) If price per unit, p, is plotted on the horizontal axis and
the quantity supplied q is plotted on the vertical axis, determine the
slope-intercept form of the equation of the line which passes through these two
points.
(ii) Interpret the slope of the equation in this application.
(iii)Predict the weekly supply if the market
price equals $25 per unit.
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