The linear profit equation for a company that sells customized furniture is P =a +b where P is the profit in dollars. x is the number of units sold and a and b are constants when 200 units are sold the profit 60000 and when 450 units are sold the profit is $110 000. If the fixed cost is $1 00 00 and the the variable cost is $500 per unit Determine a and b
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a = 20000 & b = 200 if P = a + bx
Step-by-step explanation:
P = a + bx
200 units are sold the profit $ 60000
=> 60000 = a + 200b
450 units are sold the profit is $110 000
=> 110000 = a + 450b
=> 50000 = 250b
=> b = 200
60000 = a + 200 * 200
=> a = 20000
P = 20000 + 200x
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