SOLUTION: I am having a problem on how to calculate the answer for c) in the following problem. I have done a) and b), could you also tell me if the answers are correct for a) and b)?
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Question 96202: I am having a problem on how to calculate the answer for c) in the following problem. I have done a) and b), could you also tell me if the answers are correct for a) and b)?
An inventor of a new product charges $4 per unit, then her profit for producing and selling x units is given by the function: P(x) = 2.25x - 7000.
a) What is her profit if she sells 2000 units?
b) What is her profit if she sells 7000 units?
c) What is the break-even point for sales?
a) P(2000) = 2.25(2000) - 7000 = -2500
b) P(2000) = 2.25(5000) - 7000 = 4250
(I should add that this problem is based on a previous problem where the inventor believes that the cost of the producing the product is given by the function:
C(x) = 1.75x + 7000. In this problem they asked what was the cost of producing 2000 units of the product.
C(x) = 1.75x+7000
C(2000) = 1.75(2000)+7000=$10,500)
Thank you so much!
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