1.) A calculator manufacturer's total cost function is C(x) = 25x + 2025. The total revenue function is linear and the total revenue for 100 calculators is $7000 while the total revenue for 150 calculators is $10,500. Find the break-even point.
2.) A retailer will buy 200 videos from the wholesaler if the price is $10 each and will buy 150 videos if the price is $15 each. The wholesaler is willing to supply 100 videos at $8 each and 150 videos at $10 each. Assuming the supply and demand functions are linear, find the market equilibrium point.
Thanks in advance for your assistance.
2.) A retailer will buy 200 videos from the wholesaler if the price is $10 each and will buy 150 videos if the price is $15 each. The wholesaler is willing to supply 100 videos at $8 each and 150 videos at $10 each. Assuming the supply and demand functions are linear, find the market equilibrium point.
Thanks in advance for your assistance.