Assessment Instructions
Scenario
A tech company has developed a new compact, high efficiency battery for hand-held devices. Market projections have estimated the cost and revenue of manufacturing these batteries by the equations graphed below.
Show and explain all steps in your responses to the following parts of the assignment using the Algebra concepts discussed within the course. All mathematical steps and explanations must be typed up and formatted using the equation editor.
Part 1: Use the substitution method to determine the point where the cost equals the revenue.
Part 2: Interpret your results from Part 1 in the context of the problem.
Part 3: Do your results from Part 1 correspond with the graph? Explain.
Part 4: Profit is found by subtracting cost from revenue. Write an equation in the same variables to represent the profit.
Part 5: Find the profit from producing 100 thousand batteries