Chapter 1: Problem 12
Write an equation that represents the statement. The difference of \(n\) and 7 is 4 .
Short Answer
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Key Concepts
These are the key concepts you need to understand to accurately answer the question.
Chapter 1: Problem 12
Write an equation that represents the statement. The difference of \(n\) and 7 is 4 .
These are the key concepts you need to understand to accurately answer the question.
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The revenue \(R\) and cost \(C\) for a product are given by \(R=x(75-0.0005 x)\) and \(C=30 x+250,000\), where \(R\) and \(C\) are measured in dollars and \(x\) represents the number of units sold (see figure). (a) How many units must be sold to obtain a profit of at least \(\$ 750,000 ?\) (b) The demand equation for the product is \(p=75-0.0005 x\) where \(p\) is the price per unit. What prices will produce a profit of at least \(\$ 750,000 ?\) (c) As the number of units increases, the revenue eventually decreases. After this point, at what number of units is the revenue approximately equal to the cost? How should this affect the company's decision about the level of production?
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