Concept explainers
To find: the number of units that must be sold to obtain a profit of at least $1,650,000 and the price per unit.
Answer to Problem 70E
Explanation of Solution
Given:
The revenue equation for a product is
The cost equation for that product is
Here, x represents the number of units sold.
It is known that,
Profit = Revenue − Cost
Now, it is required that profit must be at least $1,650,000. That is,
This inequality is satisfied only when
Now, the price per unit is found by dividing the revenue by the total number of units sold.
So, when 90,000 units are sold, the price per unit will be:
And when 100,000 units are sold, the price per unit will be:
Conclusion:
To obtain a profit of at least $1,650,000 the number of units sold should be
Chapter 2 Solutions
EBK PRECALCULUS W/LIMITS
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