Solve the Problem $\mathrm{p}=\mathrm{S}(\mathrm{q})=4 \mathrm{q}$ , Where $\mathrm{p}$

question 13

Multiple Choice

Solve the problem.
-Suppose that the price and supply for a certain model of graphing calculator are related by $\mathrm{p}=\mathrm{S}(\mathrm{q}) =4 \mathrm{q}$ , where $\mathrm{p}$ is the price (in dollars) and $\mathrm{q}$ is the supply (in hundreds) of calculators. Find the supply if the price is $\$ 89$ . Round to the nearest whole number if necessary.

• A) 1113 calculators
• B) 2225 calculators
• C) 556 calculators
• D) 223 calculators

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Definitions:

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed units of production, making them comparable to fully completed units.

Conversion Costs

The sum of direct labor costs and manufacturing overhead costs incurred to convert raw materials into finished goods.

Completion Ratios

A measure used to evaluate the extent to which a task, project, or goal has been completed, often expressed as a percentage.

Direct Materials

Raw materials that are directly traceable and allocable to the production of specific goods or services.