Question
A small publishing company is releasing a new book. The production costs will include a one-time fixed cost for editing and an additional cost for each book
printed. The total production cost
The total revenue earned (in dollars) from selling the books is given by the function
Let
P=
printed. The total production cost
The total revenue earned (in dollars) from selling the books is given by the function
Let
P=
Ask by Black Horton. in the United States
Dec 08,2024
Upstudy AI Solution
Tutor-Verified Answer
Answer
P = 14.65N - 750
Solution
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The Deep Dive
First, let’s define the profit
Substituting the expressions for
Now, simplify the equation:
So, the equation relating profit
In the world of publishing, small presses often face the challenge of balancing costs and revenue. A key to success is understanding the break-even point, which is the number of books that need to be sold to cover costs. For this situation, you can find the break-even point by setting
From an entrepreneurial angle, maximizing profit isn’t just about selling more books; it’s also about managing costs effectively. Consider strategies like negotiating better printing prices or improving marketing efforts to boost sales. Small changes can have a large impact on that profit margin. Plus, connecting with readers via social media or local events can foster a community around your book, leading to even more sales!
