Question

Describe how systems of equations and inequalities relate to business

Answer 1

Systems of equations and inequalities are used in business to analyze and solve problems related to supply and demand, production costs, and profit maximization.

Step-by-step explanation:

In business, systems of equations and inequalities can be used to analyze and solve various problems related to supply and demand, production costs, profit maximization, and other economic variables.

For example, suppose you are running a business that sells a product.

You can use a system of equations to model the relationship between the price of the product and the quantity demanded by consumers.

This can help you determine the optimal price to maximize revenue or profit.

Similarly, you can use inequalities to set production constraints or price limits.

For instance, if the production costs exceed a certain value or the price falls below a certain threshold, it may not be feasible to continue production.

Answer 2

Part 1/ Do u remember in quadratics, we used to have equations with variables of power 2. In those we used to have vertexes. With the help of those we can find the max/min values in the business.