Concept explainers
Reminder Round all answers to two decimal places unless otherwise indicated.
Profit The total cost
Suppose that a manufacturer of widgets has a fixed costs of $2000 per month and that the variable cost is $30 per widget. Further, the manufacturer has developed the following table showing the highest price
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a. Use a formula to express the total monthly cost
b. Use the table to find a linear model of
c. Use your answer to part b to find a formula expressing the total monthly revenue
d. Use your answers to part a and part c to find a formula expressing the monthly profit
e. Find the two monthly production levels at which the manufacturer just breaks even (that is, where the profit is zero).
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Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
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