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Please help with questions 32,34,36,37,38,40 A music store just started selling the new model of an electric guitar. The expense equation for this guitar is
Please help with questions 32,34,36,37,38,40
A music store just started selling the new model of an electric guitar. The expense equation for this guitar is y=23x+15 and the revenue equation is y=x2+8x. Each unit in the x axis represents $100; so x=1 represents $100 and so on. Each unit in the y-axis represents tens of thousands of dollars, so y=6 represents $60,000. Use breakeven analysis and the graph below to answer the following questions. 31) Find the x-values of the breakeven points. (Hint: your answers should represent the price in dollars) Choose two answers. A) $200 B) $120,000 C) $750 D) $37,500 E) $0 AB) $800 AC) $475 AD) $154,375 32) Find the y-values of the breakeven points. (Hint your answers should represent revenue in dollars) Choose two answers. A) $200 B) $120,000 C) $750 D) $37,500 E) $0 AB) $800 AC) $475 AD) 5154,375 33) Write an (x,y) coordinate for each breakeven point. Choose two answers. A) (200,120000) B) (0,0) C) (400,160000) D) (750,37500) 34) What is the minimum amount the guitar can be sold for in order to yield a profit? A) $475 B) $750 C) $200 D) $800 35) What is the maximum amount the guitar can be sold for in order to yield a profit? A) $475 B) $750 C) $200 D) $800 36) Write the equation for profit in simplest form. Hint: Refer to pgs. 13-14 in Lesson 3.2 A) y=x2+8x+23x15 B) y=x2+8x23x15 C) y=x2+219x+15 D) y=x2+219x15 37) What is the vertex of the profit equation? (Hint: make sure the values represent cost and profit in dollars) Hint: Refer to pgs. 14-15 in Lesson 3.2 A) (4.75,7.5625) B) (475,75625) C) (200,0) D) (750,0) 38) What price for the guitar will yield the highest profit? Hint: use the vertex of (P) to solve A) $475 B) $4.75 C) $200 D) $750 39) What is the maximum profit this guitar will yield when sold at the price from the previous question? Hint: use the vertex of (P) to solve A) $0 B) $120,000 C) $75,625 D) $37,500 40) If the owner of the music store made a mistake when calculating the price he should sell the guitars at for a maximum profit, and instead sold the guitars for $400, how much profit is he losing for selling at the wrong price? A) $70,000 B) $160,000 C) $84,375 D) $5,625 Step by Step Solution
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