Cost and revenue equilibrium
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A larg wholesale nursery sells shrubs to a retail store. The cost C(x) and revenue R(x) in dollars for x shrubs are listed below:
C(x) = 15x +12000
R(x) = 18 x
a) find the equilibrium point.
b) explain the meaning of the equilibrium point.
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Solution Summary
A problem related to to equilibrium in revenue & cost is solved here.
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a)
Equilibrium point:
Revenue = Cost
=> R(x) = C(x)
=> 18 x = 15 x + 12000
=> 18x - 15x = 12000
=> 3x = 12000
=> x = 12000/3 ...
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