Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help solving the following: A guitar factory has fixed production cost of $50,000 plus $75 for each guitar produced.Its cost of production function

I need help solving the following:

A guitar factory has fixed production cost of $50,000 plus $75 for each guitar produced.Its cost of production function can be written asC(x) = 75x+ 50,000.

The company decides to sell each guitar for $325, so its revenue function can be written asR(x)=325x.

How many guitars must the company sell at $325 per guitar in order to "break even"?

I solved the problem but im not sure if my answer is correct

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Transportation A Global Supply Chain Perspective

Authors: John J. Coyle, Robert A. Novak, Brian Gibson, Edward J. Bard

8th edition

9781305445352, 1133592961, 130544535X, 978-1133592969

More Books

Students also viewed these Mathematics questions