Find the break-even point for the firm whose cost function C and revenue function R are given.
C(x) = 14x + 9,000; R(x) = 23x
(x, y) = (_________)
it's when
R(x) = C(x)
23x = 14x+9000
Now just solve for x, then evaluate y.
To find the break-even point, we need to find the value of x where the cost and revenue are equal.
Setting C(x) = R(x), we have:
14x + 9,000 = 23x
To solve for x, we can subtract 14x from both sides of the equation:
9,000 = 9x
Dividing both sides by 9:
x = 1,000
Therefore, the break-even point for the firm is (1,000, _________).
To find the break-even point for the firm, we need to determine the value of x at which the cost function (C) is equal to the revenue function (R).
First, set the cost function equal to the revenue function:
14x + 9,000 = 23x
Next, isolate the variable x. We can subtract 14x from both sides of the equation:
9,000 = 9x
Now, divide both sides of the equation by 9 to solve for x:
x = 1,000
So the break-even point for the firm is when x = 1,000.
Therefore, the coordinates (x, y) of the break-even point are (1,000, y). We don't have a specific value for y in this case, as it depends on the unit price or sales volume.