In Exercises 5–8, cost and revenue functions for producing and selling x units of a product are given. Cost and revenue are expressed in dollars.
Find the number of units that must be produced and sold to break even. At this level, what is the dollar amount coming in and going out?
Write the profit function from producing and selling x units of the product.
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Student Solutions Manual for Intermediate Algebra for College Students
- Your college newspaper, The Collegiate Times, has fixed production costs of $7000 per edition, and variable printing and distribution costs of $40 per copy. The Collegiate Times sells for $50 per copy. Write down the associated cost, revenue, and profit functions. What profit (or loss) results from the sale of 500 copies of The Collegiate Times? How many copies should be sold to break even?arrow_forwardAssuming that the company sells all that it produces, what is the profit function? P(x)=arrow_forwardRedo Exercise 5, assuming that the house blend contains 300 grams of Colombian beans, 50 grams of Kenyan beans, and 150 grams of French roast beans and the gourmet blend contains 100 grams of Colombian beans, 350 grams of Kenyan beans, and 50 grams of French roast beans. This time the merchant has on hand 30 kilograms of Colombian beans, 15 kilograms of Kenyan beans, and 15 kilograms of French roast beans. Suppose one bag of the house blend produces a profit of $0.50, one bag of the special blend produces a profit of $1.50, and one bag of the gourmet blend produces a profit of $2.00. How many bags of each type should the merchant prepare if he wants to use up all of the beans and maximize his profit? What is the maximum profit?arrow_forward
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