Hi Blurtians! I just want to share what I have learned today. I was asked to solve some math problems from a friend. I was looking for references because I somehow forgot the topic. As I was scrolling the internet, I came across with Chatgpt.
For my curiosity of how it really works, I just typed the problem and asked for a solution and wow in few seconds the answer to the problem is displayed and with explicit explanation. I was amazed at how it responded.
Here is the solution it provided.
a. To write the revenue function as R(x), cost function C(x), and profit function P(x), we'll use the following variables:
- x: the number of units sold
- R(x): the revenue generated from selling x units
- C(x): the cost incurred from selling x units
- P(x): the profit obtained from selling x units
The revenue generated from selling x units is calculated by multiplying the selling price per unit by the number of units sold:
R(x) = 100x
The cost incurred from selling x units consists of a fixed cost and a variable cost:
C(x) = Fixed cost + Variable cost per unit * Number of units sold
C(x) = 10560 + 34x
The profit obtained from selling x units can be calculated by subtracting the cost from the revenue:
P(x) = R(x) - C(x)
P(x) = 100x - (10560 + 34x)
P(x) = 66x - 10560
b. To find the break-even quantity, we need to determine the number of units sold at which the profit is zero (P(x) = 0). Setting the profit function equal to zero, we can solve for x:
66x - 10560 = 0
66x = 10560
x = 10560 / 66
x ≈ 160
The break-even quantity is approximately 160 units.
c. To calculate the profit earned from selling 500 units, we substitute x = 500 into the profit function:
P(500) = 66(500) - 10560
P(500) = 33000 - 10560
P(500) = 22440
If they sell 500 units, the profit earned will be 22440 pesos.
It really gave an answer and explanation. You just need to type the question.
As I reflected, I can say that studying now has become easier. You don't need to read many books for references. With a snap of your finger all the information you needed is right in front of you. But it is still up to you, if you will make use of it in a good way.♥️
(credits to nova)