3. A company makes fidget spinners. They have written formulas for their revenue, R, and their costs, C, based on the number of spinners they make and sell, S: R = 4.31S C = 423 + 1.87S Determine their "break-even" point, where revenue and costs are equal 4. A different company makes dice. They have written formulas for their revenue, R, and their costs, C, based on the number of dice they make and sell, D: R = 0.65D C = 432 + 0.19D Determine their "break-even" point, where revenue and costs are equal.
3. A company makes fidget spinners. They have written formulas for their revenue, R, and their costs, C, based on the number of spinners they make and sell, S: R = 4.31S C = 423 + 1.87S Determine their "break-even" point, where revenue and costs are equal 4. A different company makes dice. They have written formulas for their revenue, R, and their costs, C, based on the number of dice they make and sell, D: R = 0.65D C = 432 + 0.19D Determine their "break-even" point, where revenue and costs are equal.
Chapter23: Profit Maximization
Section: Chapter Questions
Problem 14E
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Question
3. A company makes fidget spinners. They have written formulas for their revenue, R, and their costs, C, based on the number of spinners they make and sell, S:
R = 4.31S
C = 423 + 1.87S
Determine their "break-even" point, where revenue and costs are equal
4.
A different company makes dice. They have written formulas for their revenue, R, and their costs, C, based on the number of dice they make and sell, D:
R = 0.65D
C = 432 + 0.19D
Determine their "break-even" point, where revenue and costs are equal.
Expert Solution
Step 1
Break-even is the balancing point where the economy neither has profit nor has a loss.
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