Math Problem Statement

Find the break-even point(s) for the revenue and cost functions below. Separate multiple answers with a comma.

R(x)=892.70x−7x2C(x)=3x+19572.28

Solution

To find the break-even point(s) for the given revenue and cost functions, we need to set the revenue function R(x)R(x) equal to the cost function C(x)C(x) and solve for xx.

Given functions:

R(x)=892.70x7x2R(x) = 892.70x - 7x^2 C(x)=3x+19572.28C(x) = 3x + 19572.28

Step 1: Set R(x)=C(x)R(x) = C(x)

892.70x7x2=3x+19572.28892.70x - 7x^2 = 3x + 19572.28

Step 2: Rearrange the equation to set it equal to zero:

7x2+892.70x3x19572.28=0-7x^2 + 892.70x - 3x - 19572.28 = 0 7x2+889.70x19572.28=0-7x^2 + 889.70x - 19572.28 = 0

Step 3: Solve the quadratic equation

This is a standard quadratic equation of the form: ax2+bx+c=0ax^2 + bx + c = 0 Where: a=7,b=889.70,c=19572.28a = -7, \quad b = 889.70, \quad c = -19572.28

Use the quadratic formula to solve for xx: x=b±b24ac2ax = \frac{-b \pm \sqrt{b^2 - 4ac}}{2a}

Substituting the values: x=889.70±(889.70)24(7)(19572.28)2(7)x = \frac{-889.70 \pm \sqrt{(889.70)^2 - 4(-7)(-19572.28)}}{2(-7)}

Step 4: Calculate the discriminant

Discriminant=889.7024(7)(19572.28)\text{Discriminant} = 889.70^2 - 4(-7)(-19572.28) Discriminant=791564.0954803.84\text{Discriminant} = 791564.09 - 54803.84 Discriminant=736760.25\text{Discriminant} = 736760.25

Step 5: Compute the solutions

x=889.70±736760.2514x = \frac{-889.70 \pm \sqrt{736760.25}}{-14} x=889.70±858.4614x = \frac{-889.70 \pm 858.46}{-14}

Now, calculate the two possible values of xx:

  1. x1=889.70+858.4614=31.2414=2.23x_1 = \frac{-889.70 + 858.46}{-14} = \frac{-31.24}{-14} = 2.23
  2. x2=889.70858.4614=1748.1614=124.87x_2 = \frac{-889.70 - 858.46}{-14} = \frac{-1748.16}{-14} = 124.87

Conclusion

The break-even points are: x=2.23,x=124.87x = 2.23, \quad x = 124.87

Would you like further details or have any questions?


Here are 8 related questions for further practice:

  1. What is the revenue at the break-even points?
  2. Calculate the cost at the break-even points.
  3. What are the conditions for no break-even points in a quadratic revenue function?
  4. How does the discriminant in the quadratic formula affect the number of break-even points?
  5. What is the significance of each term in the quadratic revenue function?
  6. What is the minimum or maximum value of the revenue function R(x)R(x)?
  7. How does changing the coefficient of x2x^2 in the revenue function affect the break-even points?
  8. If the cost function had a higher fixed cost, how would that affect the break-even points?

Tip: When solving quadratic equations, always check the discriminant to determine if there are real, repeated, or complex solutions.