Functions

A function is a relation which is defined as a set from Set A to Set B Such that every element
of set A is uniquely related to an element of set B

Types of Function based on Equation

Algebraic expressions are also included in the types of functions and are based on the degree
of the polynomial expression (f(x)=a0+a1x+a2x2+⋯+anxn). For example:

o The polynomial function with degree zero is declared to be a constant function.

o The polynomial function of degree one is termed a linear function.
o The polynomial function of degree two is termed a quadratic function.
o Similarly, the polynomial function of degree three is a cubic function.

Constant Function

A constant function is a significant form of a many-to-one function. In this function, all the
domain elements possess a single data/ image.

A constant function is the sort of function that presents the same value of output for any
presented input. It is represented as, f(x) = c, where c is a constant. For example, f(x) = 6 is a
constant function.

Linear Function

A polynomial function with

the first-degree equation is
said to be a linear function.
The domain and range for
such a function is a real
number, and it produces a
straight-line graph.
Equations such as y = x + 4,
y = 6x, y = 4x – 1, are all
examples of linear functions.
The identity function of y =
x can also be included in the linear function.

Check out the graph for y = x – 6.

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The general form of a linear function is f(x) = px + q, where p, q are real numbers.
Graphically the linear function can be interpreted by the equation of a line y = mx + c, where
m denotes the slope of the line and c implies the y-intercept of the line.

Polynomial Function

A Polynomial function is a sort of function that can be represented as a polynomial. It is

expressed as, f(x)=a0+a1x+a2x2+⋯+anxn, where n represents a non-negative integer and
a0,a1,a2,…,an∈R.. For example, f(x)=3x+7 is a polynomial function.
Quadratic Function

A Quadratic function is a kind of function that holds the highest power two in the polynomial
function. For example, f(x)=x2−4is a quadratic function. The graph of a quadratic equation
follows a non-linear pattern and is parabolic in shape as can be seen from the above graph.

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In other words, a quadratic function is one with a second-degree quadratic equation and it has
a graph that forms a curve. The general pattern of the quadratic function is f(x)=ax2+bx+c,
where a ≠ 0 and a, b, c are constant with x as the variable. The domain and range of the
quadratic function is R.

Cubic Function

A cubic function as the name implies is a sort of function that has the highest power three in
the polynomial function. For example, f(x)=x3+6

The general form of a cubic function is f(x)=ax3+bx2+cx+d, where a ≠ 0 and a, b, c, and d

denote the real numbers and x is a variable.

The graph of a cubic function is more curved than the quadratic function. The domain and the
range are R. Check out the graph for y=x3–5

Exponential Functions

An exponential function is mathematically expressed f(x)=f(y)=by, where “y” stands for the
variable and “b” denotes the constant which is also termed as the base of the function.

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The exponential function is mainly employed to determine exponential decay/ exponential
growth. The most commonly used exponential function base is e.
Logarithmic Functions

The representation of the Logarithmic Functions as shown; f(y)=logb(y)

Here b signifies the base of the function.

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Formulae
1. Total Revenue (TR)=p(x)
2. Total Cost(TC)=FVC+V.C(x)
3. Profit= Revenue-Cost
4. Breakeven point Demand= Supply, (Profit= 0), Cost = revenue
Q1. In a particular market location, the demand curve for potatoes is given by

Q=2− ( 15 ) P Where Q quantity is measured in thousands of tons and price in rupees per Kg.
If the corresponding supply is measured by S=0.2+( ) P.
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Find the equilibrium price and quantity purchased & offered at that price.
Ans (P=2, Q=1600 tons)
Q2A shop produces toy cars where the cost is given by C=2000+50 x , where X is the no. of
toy cars. Total revenue function is given by R=100x. Find the point at which workshop will
have break even. (Ans; X=40 units)
Q3. A watch company is to produce low quality of wrist watches. Fixed cost of Rs. 2.25 lakhs,
a variable cost of Rs. 175/ watch. If each wrist watch can be sold at Rs. 600.
a. Find the TC, Revenue Function and Profit function.
b. How many units of wrist watches must be produced and sold so that company does not
incur loss.
Q4. A company produces torch. The weekly cost function is given by 20.5 x+ 5500
1. Each torch sold for Rs.30, what is the minimum quantity that needs to be produced
to ensure no losses(Ans: 579 units)
2. If SP of torch increases by 10%, then what would be the minimum quantity for
breakeven? Ans : 440 units)
3. If it is known that at least 500 torch can be sold weekly then at what price would a
company sell to guarantee no loss.
Q5 A company manufactures clocks for which P=1500−3 x (price) represents the Demand
function. The cost price initially involves a fixed cost of 38400& VC of Rs. 420/ block.
1. Find the profit function and
2. Find what level of what level of production losses the company expects to recover its
losses. (Ans=40)
Assuming that for all the clocks produced there is a demand.