Luxury Tax In 2002, major league baseball signed a labor

Chapter 4, Problem 42

(choose chapter or problem)

Luxury Tax In 2002, major league baseball signed a labor agreement with the players. In this agreement, any team whose payroll exceeded $136.5 million in 2006 had to pay a luxury tax of 40% (for second offenses).The linear function T1p2 = 0.401p - 136.52 describes the luxury tax T of a team whose payroll was p (in millions of dollars). Source: Major League Baseball(a) What is the implied domain of this linear function? (b) What was the luxury tax for the New York Yankees whose 2006 payroll was $171.1 million? (c) Graph the linear function. (d) What is the payroll of a team that pays a luxury tax of $11.7 million? The point at which a companys profits equal zero is called the companys break-even point. For 43 and 44, let R represent a companys revenue, let C represent the companys costs, and let x represent the number of units produced and sold each day. (a) Find the firms break-even point; that is, find x so that (b) Find the values of x such that .Thisrepresentsthe number of units that the company must sell to earn a profit.