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Question 8
A small factory makes bars of soap. On any day, the total cost to the factory, £y, of making x bars of soap is modelled to be the sum of two separate elements: - a... show full transcript
Step 1
Step 2
Answer
Given the profits, we can derive two equations:
which simplifies to:
leading to:
which simplifies to:
leading to:
Now, substituting into the linear equation gives us:
Solving these two equations by elimination leads to:
After subtracting the second from the first,
By substituting back into either equation, say ,
we find:
Thus:
Step 3
Answer
The value 0.84 represents the variable cost of producing each additional bar of soap. It quantifies the incremental cost incurred for each unit produced, signifying that for each bar made, the factory incurs an expense of £0.84.
Step 4
Answer
To find the least number of bars, we set the profit to be greater than 0:
The revenue from selling bars is:
The total cost is:
Setting the equation for profit gives:
Simplifying:
x > rac{428}{1.16}
Calculating:
Thus, the least number of bars that must be produced is 370.
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