MODELINGSelling Backpacks Benjamins Backpacks can sell
Chapter 7, Problem 7.1.53(choose chapter or problem)
MODELINGSelling Backpacks Benjamins Backpacks can sell backpacks for $25 per backpack. The costs for making the backpacks are a fixed cost of $400 and a production cost of $15 per backpack (see Example 6 for an example of cost and revenue equations). a) Write the cost and revenue equations. b) Graph both equations, for 0 to 50 backpacks, on the same axes. c) Use the graph to estimate the number of backpacks Benjamins Backpacks must sell to break even. d) Write the profit formula. e) Use the profit formula to determine whether Benjamins Backpacks makes a profit or loss if it sells 30 backpacks. What is the profit or loss? f ) How many backpacks must Benjamins Backpacks sell to realize a profit of $1000?
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