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Suppose that the cost function C for a chemical lab to produce x liters sanitizer liquid per week is given by C(x)=5000+ Vx-0.001x°(RM). The lab set the price pand amount x liters sold follow the demand equation p(x)= 60–0.0005x° (RM). As an intern in the lab, you are required to find the break-even point, that is, how much it should produce the liquid per week in order to have neither a profit nor a loss. Use the Secant method with error tolerance 5x10² to approximate the break-even point. Begin your search with po-50 and pi=200. Show all the necessary working steps and write your answer in 4 decimal places.

Suppose that the cost function C for a chemical lab to produce x liters sanitizer liquid per week is given by C(x)=5000+ Vx-0.001x°(RM). The lab set the price pand amount x liters sold follow the demand equation p(x)= 60–0.0005x° (RM). As an intern in the lab, you are required to find the break-even point, that is, how much it should produce the liquid per week in order to have neither a profit nor a loss. Use the Secant method with error tolerance 5x10² to approximate the break-even point. Begin your search with po-50 and pi=200. Show all the necessary working steps and write your answer in 4 decimal places.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Suppose that the cost function C for a chemical lab to produce x liters sanitizer liquid per week is given by C(x)=5000+ Vx-0.001x°(RM). The lab set the price pand amount x liters sold follow the demand equation p(x)= 60–0.0005x° (RM). As an intern in the lab, you are required to find the break-even point, that is, how much it should produce the liquid per week in order to have neither a profit nor a loss. Use the Secant method with error tolerance 5x10² to approximate the break-even point. Begin your search with po-50 and pi=200. Show all the necessary working steps and write your answer in 4 decimal places.
Transcribed Image Text:Suppose that the cost function C for a chemical lab to produce x liters sanitizer liquid per week is given by C(x)=5000+ Vx-0.001x°(RM). The lab set the price pand amount x liters sold follow the demand equation p(x)= 60–0.0005x° (RM). As an intern in the lab, you are required to find the break-even point, that is, how much it should produce the liquid per week in order to have neither a profit nor a loss. Use the Secant method with error tolerance 5x10² to approximate the break-even point. Begin your search with po-50 and pi=200. Show all the necessary working steps and write your answer in 4 decimal places.
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