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Question
The cost of doing business for a company can be found by adding fixed costs, such as rent, insurance and wages, and variable costs, which are the costs to purchase the product you are selling. the portion of the company's fixed costs allotted to this product is $300, and the suppliers cost for a set of tile is $6 each. Let x represent the number of tile sets. If b represent the fixed costs, what value would represent b? Find the cost equation for the tile. Write your answer in the form c=mx+b. The profit made from the sale of the tiles is found by subtracting the costs from the revenue. Find the profit equation by sustituting your equations for R and C in the equation P=R-C. Simplify the equationn. What is the profit from selling 20 tile sets per month? What is the profit made from selling 25 tile sets each month? What is the profit made from selling o tile sets each month. Interpret your answer.Use trial and error to find the quantity of tile sets per month that yields the highest profit. How much profit would you earn from the number you found in part 1? What price would you sell the tile sets at to realize this profit? Use the demand equation from part a. The break even values for a profit model are the values for which you earn $0 i profit. Use the equation you created in question one to solve P=0, and find your break even values.
I'm not sure I understand the question, since, according to what I get,
0, 20, and 25 tiles all result in a loss.
b: fixed cost, which was given as the cost that is always there, so b = 300.
Using this, C(x) = $300.
x: tile sets, and tiles are said to be $6 each
Using this, R(x) = $6x.
We are given P(x) = R(x) - C(x).
Using this P(x) = $6x - $300.
If the number produced is 0, 20, or 25, all will give a loss.
This is because of P(x). Note that P(0) = -$300, P(20) = -$180, and P(25) = -$150.
From this, the highest profit can be found as in selling the most;.
The number to sell to break even would be 50 per month.
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Scott A Wilson
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