A manufacturing plant produces metals for various industrial applications. It costs $6000 to make 10 pounds of
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A manufacturing plant produces metals for various industrial applications. It costs $6000 to make 10 pounds of titanium, and $13,500 to make 25 pounds. It costs $1,500 to make 10 pounds of cobalt, and $3000 to make 25 pounds. Each pound of titanium sells for $600, and each pound of cobalt sells for $150. Suppose the company sold 5 pounds of titanium and some (unknown) number of pounds of cobalt, and reached their breakeven point. How many pounds of cobalt did they sell?
Hint: to find variable cost and fixed cost for both titanium and cobalt, you will need to draw a graph and find the equation of the total cost curve for each.
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