71. Lawn service: Dave and his sons run a lawn
service, which includes mowing, edging, trimming,
and aerating a lawn. His fixed cost includes
insurance, his salary, and monthly payments on
equipment, and amounts to $4000/mo. The variable
costs include gas, oil, hourly wages for his
employees, and miscellaneous expenses, which run
about $75 per lawn. The average charge for full-
service lawn care is $115 per visit. Do a break-
even analysis to (a) determine how many lawns
Dave must service each month to break even and
(b) the revenue required to break even.
72. Production of mini-microwave ovens: Due to
high market demand, a manufacturer decides to
introduce a new line of mini-microwave ovens for
personal and office use. By using existing factory
space and retraining some employees, fixed costs
are estimated at $8400/mo. The components to
assemble and test each microwave are expected to
run $45 per unit. If market research shows
consumers are willing to pay at least $69 for this
product, find (a) how many units must be made and
sold each month to break even and (b) the revenue
required to break even.
In a market economy, the availability of goods is closely
related to the market price. Suppliers are willing to
produce more of the item at a higher price (the supply),
with consumers willing to buy more of the item at a
lower price (the demand). This is called the law of
supply and demand. When supply and demand are
equal, both the buyer and seller are satisfied with the
current price and we have market equilibrium.
73. Farm commodities: One area where the law of
supply and demand is clearly at work is farm
commodities. Both growers and consumers watch
this relationship closely, and use data collected by
government agencies to track the relationship and
make adjustments, as when a farmer decides to
convert a large portion of her farmland from corn
to soybeans to improve profits. Suppose that for x
billion bushels of soybeans, supply is modeled by
where y is the current market price
(in dollars per bushel). The related demand
equation might be (a) How
many billion bushels will be supplied at a market
price of $5.40? What will the demand be at this
price? Is supply less than demand? (b) How many
billion bushels will be supplied at a market price of
$7.05? What will the demand be at this price? Is
demand less than supply? (c) To the nearest cent, at
what price does the market reach equilibrium?
How many bushels are being supplied/demanded?
y 2.20x 12.
y 1.5x 3,
74. Digital music: Market research has indicated that
by 2010, sales of MP3 portables will mushroom
into a $70 billion dollar market. With a market this
large, competition is often fierce—with suppliers
fighting to earn and hold market shares. For x
million MP3 players sold, supply is modeled by
where y is the current market
price (in dollars). The related demand equation
might be (a) How many
million MP3 players will be supplied at a market
price of $88? What will the demand be at this
price? Is supply less than demand? (b) How many
million MP3 players will be supplied at a market
price of $114? What will the demand be at this
price? Is demand less than supply? (c) To the
nearest cent, at what price does the market reach
equilibrium? How many units are being
supplied/demanded?
Uniform Motion
75. Canoeing on a stream: On a recent camping trip,
it took Molly and Sharon 2 hr to row 4 mi upstream
from the drop in point to the campsite. After a
leisurely weekend of camping, fishing, and
relaxation, they rowed back downstream to the
drop in point in just 30 min. Use this information
to find (a) the speed of the current and (b) the
speed Sharon and Molly would be rowing in still
water.
76. Taking a luxury cruise: A luxury ship is taking a
Caribbean cruise from Caracas, Venezuela, to just
off the coast of Belize City on the Yucatan
Peninsula, a distance of 1435 mi. En route they
encounter the Caribbean Current, which flows to
the northwest, parallel to the coastline. From
Caracas to the Belize coast, the trip took 70 hr.
After a few days of fun in the sun, the ship leaves
for Caracas, with the return trip taking 82 hr. Use
y 5.20x 140.
y 10.5x 25,
804 CHAPTER 8 Systems of Equations and Inequalities 8-12
College Algebra & Trignometry—
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