Concept explainers
For Exercises 55-56, the fixed and variable costs to produce an item are given along with the price at which an item is sold. (Sec Example 6)
a. Write a linear cost function that represents the cost
b. Write a linear revenue function that represents the revenue
c. Write a linear profit function that represents the profit
d. Determine the break-even point.
Fixed cost: $2275
Variable cost per item: $34.50
Price at which the item is sold: $80.00
Want to see the full answer?
Check out a sample textbook solutionChapter 2 Solutions
COLLEGE ALGEBRA
- High School Graduates The following table shows the number, in millions, graduating from high school in the United States in the given year. Year Number graduating in millions 1985 2.83 1987 2.65 1989 2.47 1991 2.29 a. By calculating difference, show that these data can be modeled using a linear function. b. What is the slope for the linear function modeling high school graduations? Explain in practical terms the meaning of the slope. c. Find a formula for a linear function that models these data. d. Express, using functional notation, the number graduating from high school in 1994, and then use your formula from part c to calculate that value.arrow_forwardHow do you find the value of a function?arrow_forward
- Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin HarcourtIntermediate AlgebraAlgebraISBN:9781285195728Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage LearningFunctions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillAlgebra for College StudentsAlgebraISBN:9781285195780Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage Learning