SOLUTION: A company is planning to introduce a new product. The company estimates that $500 worth of new equipment will be needed to manufacture this new type of product and that it will co

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Question 491560: A company is planning to introduce a new product. The company estimates that $500 worth of
new equipment will be needed to manufacture this new type of product and that it will cost $15
per item to manufacture. The company also estimates that the revenue from each item will be $31.
Find the number of items that the company needs to produce and sell in order to break-even.
i just need to know how to set the problem up.
i had 500=15x+y
but after that i realized that im wrong.
Answer by cleomenius(959) About Me  (Show Source):
You can put this solution on YOUR website!
500 + 15x = 31x; This is how you set it up.
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***Keep in mind the number of variables; in this problem we just need one, x, for the number of items.***
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500 = 16x
31.25 = x
You will need 32 to break even/ show a profit.
15(31.25) = 468.75 + 500 = 968.75
31.25(31) = 968.75
Cleomenius.