Asked by Bianca Sandra on May 07, 2024
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Toby's Tiny Toys have an expense equation of E = 12.45q + 53,900.Toby's sell its toys for $16.50 each,and its revenue equation is R = 16.5q.How many tiny toys does it have to sell to reach its breakeven point?
Expense Equation
A financial formula used to calculate the total expenses by summing all costs, both fixed and variable.
Revenue Equation
The revenue equation is a mathematical expression that calculates the total revenue earned by selling goods or services, usually represented as Revenue = Price x Quantity sold.
Breakeven Point
The financial point at which costs or expenses and revenue are equal, resulting in neither profit nor loss.
- Determine breakeven points for businesses based on cost and revenue equations.
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Learning Objectives
- Determine breakeven points for businesses based on cost and revenue equations.