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18 Cards in this Set
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 Back
Function

y = f(x)


Linear Functions

y = mx + b


NonLinear Functions

Quadratic: y = x ^ 2
Cubic: y = x ^ 3 Exponential: y = e ^ x Rational y = 1/x Square Root: y = √x 

PointSlope Formula

For point (Xo, Yo) and Slope = m:
Y  Yo = m (X  Xo) 

Slope Formula

Y2  Y1/X2  X1


If L1 is parallel to L2, what is the relationship between their slopes?

M1 = M2 (the slopes are equal)


If L1 is perpendicular to L2, what is the relationship between their slopes?

M1 x M2 = 1


Express the cost function as a general formula.

C(x) = mx + b


In the cost function general formula, what does "m" stand for?

Marginal cost.


In the cost function general formula, what does "b" stand for?

Fixed cost.


How do you calculate revenue? Or what is the formula for revenue?

R(x) = cx where c is the price and x is the number of units.


What is the formula for the profit function?

P(x) = R(x)  C(x)


The solutino of P(x) = 0 is called what?

BreakEven Point.


How do you express "zero profit?"

P(x) = 0.


What letter represents Demand?

Q.


What letter represents Supply?

S.


Describe the BreakEven Point.

When Cost = Revenue or P(x) = 0.


Describe the Equilibrium Price.

When Supply = Demand.
