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Linear Function Applications MCQs – Practice Test 5 PDF Download

MCQ 21: The decrease in prices of a market offering in a market results in:

  1. increase in demand
  2. decrease in demand
  3. increase in other product prices
  4. increase in production cost

MCQ 22: The total cost is $20,000 USD and profit is $40,000 USD then the total revenue is:

  1. $0.50
  2. $60,000
  3. $20,000
  4. $2

MCQ 23: In the function P(20,000) = 25(20,000) - 150,000, the profit is:

  1. $250,500
  2. $350,000
  3. $500,000
  4. $650,000

MCQ 24: The type of linear function written as quantity supplied = ƒ(market price) is classified as:

  1. supply function
  2. manufacturing function
  3. selling function
  4. unit function

MCQ 25: In the function quantity = ƒ(price per unit), the dependent variable is:

  1. competitors' price
  2. independent price
  3. quantity demanded
  4. quantity priced

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