Elementary calculus pt.2

BCO 116 ELEMENTARY CALCULUS Task brief & rubrics Midterm Assesment

An office supply company manufactures and sells X permanent markers per year at a price of P €/unit. The Price/Demand equation for the markers is: p=5−0.001X

1- Write the Revenues function (10%)

2- What level of production and what price should the company charge for the markers to maximize revenues? (10%)

The total cost of manufacturing is: C (x )=3000+2x 3- Write the Company’s Profit function (10%)

4- What level of production and what price should the company charge for the markers to maximize profits? (10%)

5- Draw a graph representing the above-mentioned situation (30%)

Now the Government decides to tax the Company in 1€ for each marker produced. Taking into account this additional cost: 6- Write the company’s new Cost function (10%)

7- Write the company’s new Profit function (10%)

8- What level of production and what price should the company charge for the markers to maximize profits (with these new conditions)? (10%)

The task is individual The deliverable has to be a report showing the formulas and the steps you are following The weight is equivalent to 40% of the whole course The report has to be delivered in Turnitin before 15 November 2020 at 23:59 CET

Rubrics

Questions worth 10 points

Descriptor

9-10 The student uses the proper formulas, completes the calculations correctly, arrives to the right result, draws the graph correctly when required

8-8,9 The student uses the right formula, but applies it wrongly (minor errors, figures in the wrong place…) and then, of course, the result is wrong

7-7,9 The student demonstrates a fair understanding of the meaning of the data given and of the question asked, but he/she is not able to identify the formula to be used, does larger errors and/or the calculations are wrong.

4-6,9 The student demonstrates some understanding of the concepts but he/she is not able to relate the data given in any way

0,5-3,9 The student demonstrates insufficient understanding of the concepts and does not mention any relevant ideas or concepts, but he/she done not leave it blank

0 The student leaves the question blank or cheats.

Question worth 30 points

Descriptor

27 - 30 The student demonstrates an excellent understanding of the concepts.

24 - 26,9 The student demonstrates a good understanding of the concepts.

21 - 23.9 The student demonstrates a fair understanding of the concepts.

18 - 20,8 The student demonstrates some, but insufficient understanding of the concepts.

9 - 17,9

The student demonstrates insufficient understanding of the concepts. They may mention some relevant ideas or concepts, although it is clear that the relationship between them is not understood by the student.

3 - 8,9

The student demonstrates insufficient understanding of the concepts and does not mention any relevant ideas or concepts.

0 The student leaves the question blank or cheats.