Neco 2021 Mathematics Question 6

Practice essay / theory question 6 from the 2021 Neco Mathematics examination. This question covers Linear Equations .

Neco 2021 Mathematics Essay / Theory

Topic: Linear Equations

Question 6 NECO • 2021 • MATHEMATICS • essay

A small business finds that its total revenue \(R\) (in naira) depends linearly on the number of units \(x\) sold. When 200 units are sold the revenue is \(₦150{,}000\) and when 350 units are sold the revenue is \(₦210{,}000\).

( a )

Determine the unit price (slope) and the fixed cost (intercept) of the revenue function.

( ) Set up the two linear equations using the given data.

( ) Solve the equations to find the unit price \(a\).

( ) Find the fixed cost \(b\).

( b )

Using the revenue function, calculate the expected revenue when 500 units are sold.

( ) Substitute \(x = 500\) into \(R = ax + b\) and compute \(R\).

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This is Neco 2021 Mathematics Question 6. It is one of the essay questions from the 2021 Neco Mathematics examination.

The question covers Linear Equations .

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