Name FLAME School of Liberal Education

1. A cylindrical can is to be made to hold 1 L of oil. Find the dimensions that will
minimize the cost of the metal to manufacture the can.

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2. A farmer has 2400 ft of fencing and wants to fence off a rectangular field that
borders a straight river. He needs no fence along the river. What are the
dimensions of the field that has the largest area?

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3. Let’s say you are cutting equal squares from each corner of a rectangular piece of
aluminum that is 16 inches by 21 inches. You will then fold up the “flaps” to
create a box with no top. Find the size of the square that must be cut from each
corner in order to produce a box having maximum volume.

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4. A conical tank (with its vertex down) is 8 feet tall and 6 feet across its diameter. If
water is flowing into the tank at the rate of 2 ft.3/min., find the rate at which the
water level is changing at the instant the water depth is 1/3 feet.

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5. A 4-foot-tall woman walks at a rate of 5 feet per second away from a 12-foot-tall
pole with a light on top of it.
Find the rate at which the tip of the woman’s shadow is moving away from the
base of the light pole.
Find the rate at which the length of the woman’s shadow is changing.

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Name FLAME School of Liberal Education
6. You want to sell a certain number n of items in order to maximize your profit.
Market research tells you that if you set the price at $1.50, you will be able to sell
5000 items, and for every 10 cents you lower the price below $1.50 you will be
able to sell another 1000 items. Suppose that your fixed costs (“start-up costs”)
total $2000, and the per item cost of production (“marginal cost”) is $0.50. Find
the price to set per item and the number of items sold in order to maximize
profit, and also determine the maximum profit you can get.

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Name FLAME School of Liberal Education
7. A store has been selling 200 DVD burners a week at $ 350 each. A market survey
indicates that for each $ 10 rebate offered to buyers, the number of units sold will
increase by 20 a week. Find the demand function and the revenue function. How
large a rebate should the store offer to maximize its revenue?

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Name FLAME School of Liberal Education
8. Widget Company has recently installed a new packing machine which can wrap
up to 500 widgets per day. The variable cost of wrapping is $ 0.50 per widget.
The machine is operated on a daily wage basis by two workers who are paid Rs.
15 each, per day. The wrapped widgets are sold for a price of $ 2, as against the
standard selling price of $ 1.25 for an unwrapped widget. How many widgets
must be wrapped and sold per day to cover the additional costs of labor and
wrapping? What is the maximum additional profit the firm can earn per day
through wrapping the widgets?

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Name FLAME School of Liberal Education
9. The demand and supply function for a good are given by
Demand Pd = 100-0.5Q
Supply Ps = 10 + 0.5Q

Analysis the effect of the introduction of price ceiling of $ 40 in the market.

Calculate the profit made by the black marketers if black markets operate in this
market.

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Name FLAME School of Liberal Education
10. The demand for a good is given as Q = 65-5Pd. Fixed costs are $ 30 and each unit
Produced costs an additional $ 2.
Write down the equations for total revenue and total cost in terms of Q.
Find out the break-even points algebraically.
Graph total revenue and total cost on same diagram, hence, estimate the
break-even points and explain.
Estimate the maximum profit from the graph

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11. Graph & Explain Y=X2 - 8 X +5

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12. Graph & Explain Y=X5/3 - 5 X2/3

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