Concept explainers
a.
To graph: Plot the graph of C= 0. 3x +3.5
And R = 0. 5x
a.
Explanation of Solution
Given Information: Plot the graph of C= 0. 3x +3.5 and R = 0. 5x on the same coordinate plane taking C and R on vertical axis and x on horizontal axis.
Graph:
Interpretation: In the graph above, the red-colored line is the plot of C= 0. 3x +3.5
And the blue coloured line is the plot of R = 0. 5x
b.
To Find: The point at which R=C.
b.
Answer to Problem 18P
The point at which R=C is (17.5,8.75)
Explanation of Solution
Given Information: It is given that Cost (in thousands of dollar) is given by
C= 0. 3x +3.5 ..........(1)
And Revenue (in thousands of dollar) is given by
R= 0. 5x .........(2)
Calculation: Since it is given that R=C
So , 0. 3x +3.5 = 0. 5x
Or 0. 2x = 3.5
x = 17.5
Putting this value in (2), we have
R= C= 8.75
c.
To Find: The difference of R- C represent for all x greater that x- coordinate of the break- even point.
c.
Answer to Problem 18P
The difference R-C represents the Profit.
Explanation of Solution
Given Information:It is given that C= 0. 3x +3.5 and R= 0. 5x
Calculation:It can be observed from the graph plotted in subpart (a) that revenue is greater that cost for the x greater than x- coordinate of break- even point .
Since in that region the revenue (R) is greater than cost(C) so this difference represents the profit
Chapter 3 Solutions
Algebra and Trigonometry: Structure and Method, Book 2
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