Linear Profit - Break Even
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Lesson Description:
Handle situations involving a Linear Profit model (which includes Linear Revenue and Linear Cost). Handle means interpret the situation in order to solve for the input (quantity), output (profit), or any of the parameters (unit/marginal cost, unit/marginal price, fixed cost), whatever is missing.
Check out www.themathdude.org for more videos.
Additional Resources:
- Linear Cost, Revenue, and Profit - Example problems for finding cost, revenue, or profit for given linear functions.
- Group Work / Mini Project - A mini-project for Linear Profit
- Problem Set - A problem set from this lesson.
- Problem Set Solutions - Solutions to the problem set for this lesson.
- Linear Demand, Supply, and Time-Change Models - Practice questions and problems using Demand, Supply, and Time-Change functions
- Supply and Demand - A full explanation of supply and demand
- Input-output model - An explanation of what an input-output model is, including some advanced topics.
- Input-Output Tutorial - Practice problems and questions about input-output models.
Questions answered by this video:
- How do you find the break even point for a real-world relationship where revenue catches up with cost?
- When does the revenue take over the cost of producing a product?
- How can you find the break-even point for a situation using a TI graphing calculator?
- How can you find the intersection of two lines using a TI graphing calculator?
- How do you graph a profit function from the cost and revenue functions?
- How do you find the zero of a function using a TI graphing calculator?
- What is a break-even point?
- How do you find the intersection of a cost equation C(u) = 0.55u + 10 and revenue equation R(u) = 0.95u and what does it tell you?
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Staff Review
This lesson will show you how to find the break-even point in a real-world situation in which you are selling a product. A TI graphing calculator is used to graph the cost and revenue equations and find their intersection point, which is where you will break even. The many resources included really help drive home the concept of finding the break even point.
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