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Break-Even Analysis
We discussed linear demand curves in Section 1.3. Demand curves normally apply to an entire industry or to a monopolist—-that is, a manufacturer so large that the quantity that it supplies affects the market price of the commodity. We discussed linear cost curves in Section 1.2. In this chapter project, we combine demand curves and cost curves with least-squares lines to determine break-even points.
Use the demand curve from part 1 to estimate the price that must be charged in order to sell 350 thousand cameras. Calculate the revenue for this price and quantity. Note: The revenue is the amount of money received from the sale of the cameras.
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