A musician produces and sells CDs on her website. She
Chapter 3, Problem 7(choose chapter or problem)
A musician produces and sells CDs on her website. She estimates fixed costs of $10,000, with an additional cost of $7 to produce each CD. She currently sells the CDs for $12 each. a. Create the cost equation, C, and revenue equation R, in terms of x number of CDs produced and sold. b. Find the breakeven point. c. How much should the musician charge for each CD if she wants to break even when producing and selling 1600 CDs, assuming other costs remain the same? d. By how much would she need to reduce fixed costs if she wants to break even when producing and selling 1600 CDs, assuming other costs and prices remain the same as originally stated?
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