Question 7 A musician charges C (a)=64x+20, 000, where a is the total number of attendees at the concert. The venue ch

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Question 7
A musician charges C (a)=64x+20, 000, where a is the total number of attendees at the
concert. The venue charges $80 per ticket. After how many people buy tickets does the venue
break even, and what is the value of the total tickets sold at that point?

1 thought on “Question 7 A musician charges C (a)=64x+20, 000, where a is the total number of attendees at the concert. The venue ch”

  1. The number of people at the break-even point is 1250 and the total ticket sold is $100000

    How do determine the number of people at the break-even point?

    In economics, business, and particularly cost accounting, the break-even point is the point at which total cost and total income are equal, or “even.” There is no overall profit or loss.
    The cost function is given as:
    C(x) = 64x + 20000
    The venue charges $80 per ticket. Then the revenue function is
    R(x) = 80x
    At break–even point, we have
    R(x) = C(x)
    Substitute the known values in the above equation.
    80x = 64x + 20000
    Evaluate the like terms
    16x = 20000
    Divide both sides by 16.
    x = 1250
    Substitute x = 1250 in R(x) = 80x
    R(1250) = 80 * 1250
    Evaluate the value.
    R(1250) = 100000
    Hence, the number of people at the break-even point is 1250 and the total ticket sold is $100000.
    Read more about cost and revenue functions at:
    brainly.com/question/25188276
    #SPJ1

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