A widget-making machine costs $1250. The cost for the materials is $300 per widget. Market analysis indicates that if the company wants to sell r widgets each day, then the price should be set at $(600 – 10x) per widget. • Set up the cost function, revenue function, and profit function depending on the number of widgets r produced and sold each day. • What are the "break even" points (where profit equals zero)? • How many widgets should be produced and sold to maximize profit each day? What is the maximum profit each day?
A widget-making machine costs $1250. The cost for the materials is $300 per widget. Market analysis indicates that if the company wants to sell r widgets each day, then the price should be set at $(600 – 10x) per widget. • Set up the cost function, revenue function, and profit function depending on the number of widgets r produced and sold each day. • What are the "break even" points (where profit equals zero)? • How many widgets should be produced and sold to maximize profit each day? What is the maximum profit each day?
Chapter4: Systems Of Linear Equations
Section4.3: Solve Mixture Applications With Systems Of Equations
Problem 158E: The manufacturer of an energy drink spends $1.20 to make each drink and sells them for $2. The...
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Transcribed Image Text:A widget-making machine costs $1250. The cost for the materials is $300 per widget. Market analysis
indicates that if the company wants to sell x widgets each day, then the price should be set at $(600 – 10x) per
widget.
• Set up the cost function, revenue function, and profit function depending on the number of widgets r produced
and sold each day.
• What are the "break even" points (where profit equals zero)?
• How many widgets should be produced and sold to maximize profit each day? What is the maximum profit
each day?
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