College Algebra (6th Edition)

Published by Pearson
ISBN 10: 0-32178-228-3
ISBN 13: 978-0-32178-228-1

Chapter 5 - Systems of Equations and Inequalities - Exercise Set 5.1: 61

Answer

a. $C(x)=18,000+20x$ b. $R(x)=80x$ c. (300, 24000) When 300 canoes are sold, the revenue equals the cost =$\$ 24,000$

Work Step by Step

a. Cost Function:$\quad C(x)=$ fixed cost $+$( cost per unit produced) $x$ $C(x)=18,000+20x$ b. Revenue Function:$\quad R(x)=$( price per unit sold)$\cdot x$ $R(x)=80x$ c. The point of intersection of the graphs of $R$ and $C$ is the break-even point (when R(x)=C(x) ). $R(x)=C(x)$ $80x=18,000+20x\qquad/-20x$ $60x=18,000\qquad/\div 60$ $x=300$ $y=R(300)=80(300)=\$ 24,000$ (300, 24000) When 300 canoes are sold, the revenue equals the cost =$\$ 24,000$
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.