A hardware store purchases a drill for $80 and marks it up by 60% They then offer a 20% discount on the marked-up price. The store manager calculates the final sale price as $64 The manager's steps are shown below: Calculate the marked-up price: $80+($80⋅0.60)=$128 Apply the discount: $128−($128⋅0.50)=$64 Identify the mistake in the manager's calculation.
Given the profit function P(x)=−2x^2+8x−3 , graph the function and identify the graph that correctly represents the profit based on the number of units sold. The vertex indicates the maximum profit.
A business owner is trying to determine the break-even point. The owner uses the revenue function R(x)=−0.014x^2+7,000x , and the cost function is C(x)=180,000+2,000x In both functions, x represents the number of units sold. How many units does the owner need to sell to break even? Round to the nearest whole number if necessary.
If the government sets a price ceiling of $2 , what is the likely outcome in the smartphone market?
How does the increase in production capacity (shift in supply) affect the equilibrium quantity?
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