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It costs a certain bicycle factory a fixed amount of $11,00
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27 May 2018, 03:50
27 May 2018, 03:50
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75% (01:22) correct
25% (01:07) wrong based on 48 sessions
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It costs a certain bicycle factory a fixed amount of $11,000 to operate for one month, plus $300 for each bicycle produced during the month. Each of the bicycles sells for a retail price of $700. What is the minimum number of bicycles that the factory must sell in one month to make a profit?
(A) 26
(B) 27
(C) 28
(D) 29
(E) 30
(A) 26
(B) 27
(C) 28
(D) 29
(E) 30
Re: It costs a certain bicycle factory a fixed amount of $11,00
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27 May 2018, 12:58
27 May 2018, 12:58
Expert Reply
Explanation
The question asks how many bicycles the factory must sell to make a profit. One way of phrasing that is to say the profit must be greater than 0. Since Profit = Revenue – Cost, you can rewrite the equation to say:
Revenue – Cost > 0
Let b equal the number of bicycles sold. Each bike sells for $700, so the total revenue is 700b. The cost is equal to $11,000 plus $300 for every bicycle sold.
(700b) – (11,000 + 300b) > 0
Isolate b on one side of the inequality:
700b – 11,000 + 300b > 0
400b – 11,000 > 0
400b > 11,000
b > 27.5
If b must be greater than 27.5, then the factory needs to sell at least 28 bicycles to make a profit.
The question asks how many bicycles the factory must sell to make a profit. One way of phrasing that is to say the profit must be greater than 0. Since Profit = Revenue – Cost, you can rewrite the equation to say:
Revenue – Cost > 0
Let b equal the number of bicycles sold. Each bike sells for $700, so the total revenue is 700b. The cost is equal to $11,000 plus $300 for every bicycle sold.
(700b) – (11,000 + 300b) > 0
Isolate b on one side of the inequality:
700b – 11,000 + 300b > 0
400b – 11,000 > 0
400b > 11,000
b > 27.5
If b must be greater than 27.5, then the factory needs to sell at least 28 bicycles to make a profit.
Re: It costs a certain bicycle factory a fixed amount of $11,00
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08 Jul 2019, 00:48
08 Jul 2019, 00:48
sandy wrote:
It costs a certain bicycle factory a fixed amount of $11,000 to operate for one month, plus $300 for each bicycle produced during the month. Each of the bicycles sells for a retail price of $700. What is the minimum number of bicycles that the factory must sell in one month to make a profit?
(A) 26
(B) 27
(C) 28
(D) 29
(E) 30
(A) 26
(B) 27
(C) 28
(D) 29
(E) 30
any other explanation
