A tech company has developed a new compact, high efficiency battery for hand-held devices. Market projections have estimated the cost and revenue of manufacturing these batteries by the equations graphed attached below.
Show and explain all steps in your responses to the following parts of the assignment. All mathematical steps must be formatted using the equation editor.
Part 1: Use the substitution method to determine the point where the cost equals the revenue.
Part 2: Interpret your results from Part 1 in the context of the problem.
Part 3: Do your results from Part 1 correspond with the graph? Explain.
Part 4: Profit is found by subtracting cost from revenue. Write an equation in the same variables to represent the profit.
Part 5: Find the profit from producing 75 thousand batteries.