A shoe manufacturer determines that the annual cost of making x pairs of one type of shoe is $30 per pair plus $100,000 in fixed overhead costs. Each pair of shoes that is manufactured is sold wholesale for $50.
a. Find the equations that model Revenue and cost and graph each equation on the same x-y coordinate systems.
b. Use the graph to find how many pairs of shoes that must be sold in order for the manufacturer to break even.
c. Use the graph to estimate the cost of manufacturing 8000 pairs of shoes. Estimate the profit.
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