Concept explainers
Break-Even Analysis A 2015 Toyota Camry costs $33,500 with a gasoline engine. A 2015 Toyota Avalon costs $36,775 with a hybrid engine. The Camry gets 31 miles per gallon of gasoline and the Avalon gets 39 miles per gallon of gasoline. Assume that the price of gasoline is $2.759. (Source: Toyota Motor Sales, U.S.A., Inc. and U.S. Energy Information Administration)
(a) Show that the cost
(in dollars) of driving the Toyota Camry x miles is
(b) Find the break-even point. That is, find the mileage at which the hybrid-powered Toyota Avalon becomes more economical than the gasoline- powered Toyota Camry.
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