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Finite Mathematics and Calculus with Applications

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Finite Mathematics and Calculus with Applications(7th Edition)by Lial, Greenwell, and RitcheySection 1.2- Linear Functions and Applications13. Assume that the situation can be expressed as a linear cost function. Find the cost function. Fixed cost: $400; 10 items cost $650 to produce. where is the marginal cost and is the fixed cost. Therefore . Since 10 items cost $,  and the linear cost function is  23. Enrique Gonzales owns a small publishing house specializing in Latin American poetry. His fixed cost to produce a typical poetry volume is $525, and his total cost to produce 1000 copies of the book is $2675. His books sell for $4.95 each. a) Find the linear cost function for Enrique's book production. The fixed cost is $525. Therefore . Since 1000 copies cost $2675,   Therefore   b) How many poetry books must he produce and sell in order to break even? The break even point is when cost is equal to revenue. Since each book sells for $4.95, revenue is given by and the break even point occurs when  Therefore he must produce and sell 188 books. c) How many books must he produce and sell to make a profit of $1000?   Therefore   He must sell 545 books. 27. Producing units of tacos costs revenue is where and are in dollars. a) What is the break-even quantity? b) What is the profit from 100 units? c) How many units will produce a profit of $500? To find the break-even quantity, set and solve for   The break-even quantity is 2 units. Profit is given by   The profit from 100 units is $980 . If we want a profit of $500 then   Therefore 52 units will produce a profit of $500


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