Linear Profit and Solver

Taught by TheMathDude
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Lesson Summary:

In this lesson, you will learn how to use Solver to solve a linear profit function. By setting the profit equation to zero and filling in known values for fixed cost, unit cost, and profit, you can easily find the wholesale price needed to make a desired profit. Solver is a great tool for answering multiple questions related to a linear profit model, as it requires knowing only four of the five variables to solve for the remaining one.

Lesson Description:

Handle situations involving a Linear Profit model (which includes Linear Revenue and Linear Cost). Handle means interpret the situation in order to solve for the input (quantity), output (profit), or any of the parameters (unit/marginal cost, unit/marginal price, fixed cost), whatever is missing.

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• How do you use the solver on a TI graphing calculator to solve a linear profit function?
• In a linear profit model in which you are selling a product, how can you determine how much you should sell the product for if you want to make a certain profit?
• What is the function R*U - (C*U + F) - P used for?
• How can you determine how many of a product you need to sell in order to break even?
• Staff Review

• Currently 5.0/5 Stars.
This lesson will show you how to use the TI graphing calculator to determine the price that you should sell a product for in order to make a certain profit from a product. The Solver function on the calculator is used and explained. The resources are a big help in learning this topic.