The Greatest Integer Function in Mathematics (Denoted F(x)=

question 11

Essay

The greatest integer function in mathematics (denoted f(x)=
)is used every day by cashiers making change for customers.This function tells the amount of paper money for each amount of change owed.(For example,if the customer is owed $1.25 in change,he would get $1 in paper money,thus
= 1).By considering
,
,
,
,and
,determine

.

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Definitions:

Total Benefits

The complete gains or advantages, in terms of money, comfort, or welfare, obtained from a particular action or investment.

Market Equilibrium

A condition in which the quantity of goods supplied is equal to the quantity demanded, often resulting in an optimal price for products or services.

Purely Competitive Market

A market structure characterized by a large number of small firms, identical products, and free entry and exit, leading to price determination by supply and demand.

Equilibrium Output

The level of output where the quantity of goods produced equals the quantity of goods consumed, and the market is in balance.