MTH 1120 (03) Mathematical Analysis II - Winter 2023 Homework 8 1. The demand function for a product is modeled by p=800-4x, 0x200, where p is the price per unit (in dollars) and x is the number of units. a) Determine when the demand is elastic, inelastic, and of unit elasticity. b) Use the result of part a) to describe the behavior of the revenue function. 2. Find vertical and horizontal asymptote(s) for the graph of each of the following functions. 2x-x-5 a) f(x)= 16-x 12-3x b) g(x)= x+2x-8 3. The cost C (in dollars) for a company to recycle x tons of material is C = 1.25x+10,500. a) Find the average cost function C. b) Find C when x=100 and x=1000. c) Determine the limit of the average cost function as x approaches infinity. Interpret the limit in the context of the problem.