In subparts (i) and (ii) choose the correct options and in subparts (iii) to (v), answer the questions as instructed.

(i) If the demand function is given by p = 1500 — 2x — x² then find the marginal revenue when x = 10
(a) 1160 (b) 1600 (c) 1100 (d) 1200

(ii) If the two regression coefficients are 0.8 and 0.2, then the value of coefficient of correlation r will be:
(a) ±0.4
(b) ±0.16
(c) 0.4
(d) 0.16

(iii) Out of the two regression lines x + 2y — 5 = O and 2x + 3y = 8, find the line of regression of y on x.

(iv) The cost function C(x) = 3x² — 6x + 5. Find the average cost when x = 2

(v) The fixed cost of a product is Rs 30,000 and its variable cost per unit is Rs 800. If the demand function is p(x) = 4500 — 100x, find the break-even values.

Solution

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