Question

The owners of a parking lot have determined that their weekly revenue and cost in dollars are given by R(x) = 80x and C(x) = 50x + 2400, where x is the number of long-term parkers. Find the break-even point.

Answer 1

The break-even point is 80 long-term parkers.

Step-by-step explanation:

To find the break-even point, we need to find the value of x at which the revenue is equal to the cost. In other words, we need to find the value of x that satisfies the equation R(x) = C(x).

Given that R(x) = 80x and C(x) = 50x + 2400, we can set up the equation:

80x = 50x + 2400

Subtracting 50x from both sides gives:

30x = 2400

Dividing both sides by 30 gives:

x = 80

Therefore, the break-even point is when there are 80 long-term parkers.