Question
Executives of a bread company decide to add a new line of whole wheat bread. Research indicates that consumers will buy about 600 loaves at
Executives of a bread company decide to add a new line of whole wheat bread. Research indicates that consumers will buy about 600 loaves at $1.95 a loaf and 1,100 at $1.50 a loaf. The company can supply 450 loaves at $1.65 per loaf and 1,250 loaves at $1.94 per loaf. Furthermore, the baking staff reports that it costs $270 for 850 loaves and $565 for 2,200 loaves. Let the input be p, price per loaf, and the output be q, number of loaves.
What is the cost equation, C(p)?(Round all numerical values to two decimal places.)
What is the revenue equation, R(p)?(Round all numerical values to two decimal places.)
What is the profit equation P(p)? (Round all numerical values to two decimal places.)
Find the break-even price(s) only, not the quantities. (Enter your answers as a comma-separated list. Round your answers to two decimal places.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started