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anonymous
 5 years ago
You have invested $30,000 and started a business writing greeting cards. Supplies cost $0.02 per card and you are selling each card for $0.50. (Let c represent the number of cards produced and sold.)
a. Write the cost function, c
b. Write the revenue function, R
c. Determine the breakeven point. (the entire ordered pair)
anonymous
 5 years ago
You have invested $30,000 and started a business writing greeting cards. Supplies cost $0.02 per card and you are selling each card for $0.50. (Let c represent the number of cards produced and sold.) a. Write the cost function, c b. Write the revenue function, R c. Determine the breakeven point. (the entire ordered pair)

This Question is Closed

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0If supplies cost $0.02 per card and you make 5 cards, how much does that cost you?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I need help on this one

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0Sorry for the break. How did you get $5 cost to make 5 cards?

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0Ok, sorry. I was talking about just how much it costs, ignoring how much you make off of it. So if we ignore how much you sell the card for, how do you find how much it cost you to make 5 cards?

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0Right. So for a given number of cards c, how much does it cost just to make that number of cards?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0so the cost function would be 600 cards produced and sold

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0Er... Wait. No. If you calculated the cost of making 5 cards as 0.02x5, then the cost of making c cards is 0.02c, right?

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0Now, the cost function also takes into account starting costs and then profit made. So, if you sell 5 cards (ignore how much it costs to actually make them), how much do you get for them?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0yes but c has to represent the number of cards produced and sold

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0Right, we're dealing with the sold part right now. Call it `n' instead if that makes more sense to you.

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0So if it costs 0.02n to make n cards, and you get 0.5m when you sell m cards, if you make and cell c cards, how much do you get in total?

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0Well we're talking about some number c of cards, so it can't be an absolute number; it has to be in terms of c.

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0Yes, but for some arbitrary number of cards, c, how much would we make total, including how much it cost us to make the cards and how much we made selling them?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0it is costing .02 per card to make and selling them for .50 each. $1.00 to make 5 cards and if we sell 5 cards at .50 then the total would be 3.50

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0Still not clear how you're getting that it costs $1 to make 5 cards. 5 x 0.02 is not $1, it's $0.10.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0oh putting my decimal in the wrong place. then it would be $5.00 to make 5 cards

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0So it costs you $0.10 to make the five cards, you get $3.50 for selling them, so the net amount that you make is $3.50  $0.10 = $3.40. You can express this by writing an equation for your net income, N: N = 0.5c  0.02c Then, you have to subtract your initial costs so that you can find the point at which you break even: N = 0.5c  0.02c  30000 Then the point where you break even is where N = 0, so you can solve for c, the number of cards where you have made the same amount as you have spent.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I am selling each card for .50

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0c(x)=30,000+.02x r(x)=.50x .50x=30,000+.02x .02= .02x .48x=30,000 .48/.48=30,000/.48= 625 cards

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0then the break even point is .50(625)=(625, 312.50)

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0Close  you messed up your division. 30000/0.48 is 62500. The rest is perfect!

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0so my break even point in (62500, 31250)

shadowfiend
 5 years ago
Best ResponseYou've already chosen the best response.0Sounds about right.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0or should it be (625.00,312.50)
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