Find (a) the cost function, (b) the revenue function, and (c) the profit function. (d) Find the break-even point and decide whether the product should be produced, given the restrictions on sales.
Find (a) the cost function, (b) the revenue function, and (c) the profit function. (d) Find the break-even point and decide whether the product should be produced, given the restrictions on sales.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter3: Linear And Nonlinear Functions
Section3.2: Zeros Of Linear Fumctions
Problem 57PFA
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A firm will break even (no profit and no loss) as long as revenue just equals cost. The value of x (the number of items produced and sold) where is called the break-even point. Assume that the below table can be expressed as a linear function.
Find (a) the cost function, (b) the revenue function, and (c) the profit function. (d) Find the break-even point and decide whether the product should be produced, given the restrictions on sales.
Fixed cost- 600
Variable cost- 10
Price of item-30
According to the restriction, no more than 24 units can be sold.
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