Cost and Revenue A tire company determines that to manufacture a certain typeof tire, it costs $8000 to set up the production process. Each tire that is produced costs$22 in material and labor. The company sells this tire to wholesale distributors for$49 each.(a) Find a formula for the total cost C of producing x tires.(b) Find a formula for the revenue R from selling x tires.(c) Find a formula for the profit P from selling x tires.(d) How many tires must the company sell to break even?

production cost = $8000 each tire cost = $22 each tire sold at = $49

Answered: Cost and Revenue A tire company…

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

ChapterP: Prerequisites

SectionP.FOM: Focus On Modeling: Making The Best Decisions

Problem 3P

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Profit = revenue cost Cost and Revenue A tire company determines that to manufacture a certain type of tire, it costs $8000 to set up the production process. Each tire that is produced costs $22 in material and labor. The company sells this tire to wholesale distributors for $49 each. (a) Find a formula for the cost C of producing x tires? (b) Find a formula for the revenue R from selling x ? (c) Find a formula for the profit P from selling x tires? (d)How many tires must the company sell to break even?
Car Rental A businessman intends to rent a car for a 3-day business trip. The rental is 65 a day and 15 per mile Plan 1 or 90 a day with unlimited mileage Plan 2. He is not sure how many miles he will drive but estimates that it will be between 400 and 800 mi. a For each plan, find a formula for the cost C in terms of the number x of miles driven. b Which rental plan is cheaper if the businessman drives 400 miles? 800 miles? c At what mileage do the two plans cost the same?
Distance, Speed, and Time Kiran drove from Tortula to Cactus, a distance of 250 mi. She increased her speed by 10 mi/h for the 360-mi trip from Cactus to Dry Junction. If the total trip took 11h, what was her speed from Tortula to Cactus?
Size of High Schools The farm population has declined dramatically in the years since World War II, and with that decline, rural school districts have been faced with consolidating in order to be economically efficient. One researcher studied data from the early 1960s on expenditures for high schools ranging from 150 to 2400 in enrollment. He considered the cost per pupil as a function of the number of pupils enrolled in the high school, and he found the approximate formula C=7430.402n+0.00012n2 where n is the number of pupils enrolled and C is the cost, in dollars, per pupil. a. Make a graph of C versus n. b. What enrollment size gives a minimum per-pupil cost? c. If a high school had an enrollment of 1200, how much in per-pupil cost would be saved by increasing enrollment to the optimal size found in part b?

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