Question

Profit, P, for bike sales in terms of price charged per bike, p is given by: P=−p² +215p− 5923 What is the lowest price that you would need to charae to break even?

Answer 1

To break even, the profit needs to be zero. The lowest price that would result in breaking even is $62.92.

Step-by-step explanation:

To break even, the profit needs to be zero. Therefore, we can set the profit equation equal to zero and solve for the price charged per bike (p) to find the lowest price that would result in breaking even.

P = -p² + 215p - 5923

Setting P = 0:

0 = -p² + 215p - 5923

Next, we can use the quadratic formula to solve for p:

p = (-b ± √(b² - 4ac)) / (2a)

In this case, a = -1, b = 215, and c = -5923.

Plugging these values into the formula and simplifying, we get two possible values for p:

p = 62.92 or p = 152.08

Since the price cannot be negative, the lowest price that would result in breaking even is $62.92.