Prof. S. Brick Math 120
Summer ’02 Applied Calculus; Quiz 2 section 11
0. Print your name:
1. You have a budget for textbooks and social events of $1200. Textbooks cost $100 each.
A night out (i.e., a social event) costs $60. Find and graph the equation of your budget
constraint. Shade the region that corresponds to living within your means.
2. You are selling magic instant math pills. If you charge ten dollars, you end up making
200 sales every week. Each dollar increase in price results in 30 fewer sales. Find the
equation of a linear demand curve and graph it (with quantity on the horizontal axis and
price in dollars).
3. The population of a city grows in an exponential fashion with continuous growth rate
of 12.5%. Given that the initial population is 250,000, find the continuous growth rate
formula and the annual growth rate formula for the population.