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What is the importance of setting up and solving equations

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What is the importance of setting up and solving equations and inequalities?
How can equations and inequalities help a business maximize profits?

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Solution Summary

This solution discusses the importance of setting up and solving equations.

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The importance of setting up and solving equations and inequalities can help companies to find out how many outputs they need to produce. Especially for expensive goods, producers do not want to make too many of them unless they are sure they can sell them, since it costs a lot of money to produce them.

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