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18 Cards in this Set
- Front
- Back
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Function
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y = f(x)
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Linear Functions
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y = mx + b
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Non-Linear Functions
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Quadratic: y = x ^ 2
Cubic: y = x ^ 3 Exponential: y = e ^ x Rational y = 1/x Square Root: y = √x |
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Point-Slope Formula
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For point (Xo, Yo) and Slope = m:
Y - Yo = m (X - Xo) |
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Slope Formula
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Y2 - Y1/X2 - X1
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If L1 is parallel to L2, what is the relationship between their slopes?
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M1 = M2 (the slopes are equal)
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If L1 is perpendicular to L2, what is the relationship between their slopes?
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M1 x M2 = -1
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Express the cost function as a general formula.
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C(x) = mx + b
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In the cost function general formula, what does "m" stand for?
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Marginal cost.
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In the cost function general formula, what does "b" stand for?
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Fixed cost.
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How do you calculate revenue? Or what is the formula for revenue?
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R(x) = cx where c is the price and x is the number of units.
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What is the formula for the profit function?
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P(x) = R(x) - C(x)
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The solutino of P(x) = 0 is called what?
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Break-Even Point.
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How do you express "zero profit?"
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P(x) = 0.
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What letter represents Demand?
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Q.
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What letter represents Supply?
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S.
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Describe the Break-Even Point.
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When Cost = Revenue or P(x) = 0.
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Describe the Equilibrium Price.
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When Supply = Demand.
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