The demand function of a product is q = 7,000 - 50p, where p is the price. The cost function is given by C = 2,000 + 259. At what price is the break-even
Production attend?

139.65 or 25.34.

Step-by-step explanation:

The revenue function will be:

= Price × Quantity

= P × (7,000 - 50p)

= 7000p - 50p²

The coat function is given as:

C = 2,000 + 25q

C = 2000 + 25(7000 - 50p)

C = 2000 + 175000 - 1250p

C = 177000 - 1250p

Then, we'll equate the revenue function to the cost function. This will be:

7000p - 50p² = 177000 - 1250p

-50p² + 7000p + 1250p - 177000 = 0

-50p² + 8250p - 177000 = 0

Divide through by -50

p² - 165 + 3540 = 0

Solving to get the value of P will then give us 139.65 or 25.34.

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