Fixed and Variable Cost Exercise              
  Q1) A worker has set out a table of his charges:            
                   
    Number of hours worked 2 4 6 8      
    Cost (£) 20 30      
                   
  a) What is the fixed cost?            
  b) What is the variable cost?            
  c) Find an expression for the total cost £c for working h hours.        
      c = h +    
                   
  d) Work out the total cost if the worker took  150 hours to complete their work.  
                            Total cost is            
                   
  Q2) A worker has set out a table of his charges:            
                   
    Number of hours worked 1 2 3 4      
    Cost (£) 50 78      
                   
  a) What is the fixed cost?            
  b) What is the variable cost?            
  c) Find an expression for the total cost £c for working h hours.        
      c = h +    
                   
  d) Work out the total cost if the worker took  6 hours to complete their work.  
                            Total cost is            
                   
  Q3) A worker has set out a table of his charges:            
                   
    Number of hours worked 6 9 12 20      
    Cost (£) 230 320      
                   
  a) What is the fixed cost?            
  b) What is the variable cost?            
  c) Find an expression for the total cost £c for working h hours.        
      c = h +    
                   
  d) Work out the total cost if the worker took  24 hours to complete their work.  
                            Total cost is            
                   
  Tax Questions                  
  Q1) Income Tax is calculated as follows:                
    Country A $5,000    is tax free and the rest is taxed at 25%          
    Country B $0.00    is tax free and the rest is taxed at 20%          
    Let N be the net salary and G be the gross salary.              
  a) Form an expression for the net salary for each country (answer to 2 decimal places):    
                         
        Country A NA = G  +      
                         
        Country B NB = G  +      
                         
  b) Find the gross salary which results in the same net salary for both countries.    
  c) What is the net salary for the gross salary found in b)?          
                         
  Q2) Income Tax is calculated as follows:                
    Country A $3,500    is tax free and the rest is taxed at 18%          
    Country B $1,000.00    is tax free and the rest is taxed at 14%          
    Let N be the net salary and G be the gross salary.              
  a) Form an expression for the net salary for each country (answer to 2 decimal places):    
                         
                         
        Country A NA = G  +      
                         
        Country B NB = G  +      
                         
                         
  b) Find the gross salary which results in the same net salary for both countries.    
  c) What is the net salary for the gross salary found in b)?          
                         
  Q3) Income Tax is calculated as follows:                
    Country A $7,200    is tax free and the rest is taxed at 22%          
    Country B $1,500.00    is tax free and the rest is taxed at 20%          
    Let N be the net salary and G be the gross salary.              
  a) Form an expression for the net salary for each country (answer to 2 decimal places):  
                         
                         
        Country A NA = G  +      
                         
        Country B NB = G  +      
                         
                         
  b) Find the gross salary which results in the same net salary for both countries.    
  c) What is the net salary for the gross salary found in b)?          
                         
  Monthly Charges                  
  Q1) Two mobile phone companies apply the following charges:          
    Company 1 Fixed monthly payment of  £25          
        Plus a variable charge of  10 pence per minute for calls.  
    Company 2 Fixed monthly payment of  £0          
        Plus a variable charge of  20 pence per minute for calls.  
    Let T represent the total monthly cost and let m represent the number of minutes.    
  a) Write down an expression for the total monthly cost for each company:      
                         
        Company 1          T1 = m  +      
                         
        Company 2          T2 = m  +      
                         
  b) Find the number of minutes for which the monthly cost is the same for both companies.  
                         
  c) Find the total monthly cost for the number of minutes found in b)    
                         
  Q2) Two mobile phone companies apply the following charges:          
    Company 1 Fixed monthly payment of  £18          
        Plus a variable charge of  12 pence per minute for calls.  
    Company 2 Fixed monthly payment of  £0          
        Plus a variable charge of  14 pence per minute for calls.  
    Let T represent the total monthly cost and let m represent the number of minutes.    
  a) Write down an expression for the total monthly cost for each company:      
                         
        Company 1          T1 = m  +      
                         
        Company 2          T2 = m  +      
                         
  b) Find the number of minutes for which the monthly cost is the same for both companies.  
                         
  c) Find the total monthly cost for the number of minutes found in b)    
                         
  Q3) Two mobile phone companies apply the following charges:          
    Company 1 Fixed monthly payment of  £30          
        Plus a variable charge of  8 pence per minute for calls.  
    Company 2 Fixed monthly payment of  £5          
        Plus a variable charge of  12 pence per minute for calls.  
    Let T represent the total monthly cost and let m represent the number of minutes.    
  a) Write down an expression for the total monthly cost for each company:      
                         
        Company 1          T1 = m  +      
                         
        Company 2          T2 = m  +      
                         
  b) Find the number of minutes for which the monthly cost is the same for both companies.  
                         
  c) Find the total monthly cost for the number of minutes found in b)    
                         
                                       
  Supply and Demand Questions                            
                                       
  Q1) The supply of a certain product is given by the equation: 3 P  + -2 Q  =  400            
    where P is the market price and Q is the quantity produced.                      
    The demand of the same product is given by the equation: 2 P  +  3 Q  =  700            
                                       
 
[No canvas support]
  x int 0                            
                              y int 0    
                              x int 0    
                              y int 0    
                              Plot Points
                              Supply 0    
                                   
                              Demand 0    
                                   
                                       
                                       
                                       
                                       
                                       
                                       
                                       
          Find the equilibrium price and quantity: P=            
                        Q=            
                                       
                                       
  Q2) The supply of a certain product is given by the equation: 3 P  + 3 Q  =  2000            
    where P is the market price and Q is the quantity produced.                      
    The demand of the same product is given by the equation: 6 P  +  -4 Q  =  700            
                                       
                                       
 
[No canvas support]
                          x int 0    
                              y int 0    
                              x int 0    
                              y int 0    
                              Plot Points
                              Supply 0    
                                   
                              Demand 0    
                                   
                                       
                                       
                                       
                                       
                                       
                                       
          Find the equilibrium price and quantity: P=            
                        Q=