Linear Profit and Solver
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.
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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- Supply and Demand - A full explanation of supply and demand
- Linear Cost, Revenue, and Profit - Example problems for finding cost, revenue, or profit for given linear functions.
- Group Work / Mini Project - A mini-project for Linear Profit
- Problem Set - A problem set from this lesson.
- Problem Set Solutions - Solutions to the problem set for this lesson.
- Linear Demand, Supply, and Time-Change Models - Practice questions and problems using Demand, Supply, and Time-Change functions
- Input-output model - An explanation of what an input-output model is, including some advanced topics.
- Input-Output Tutorial - Practice problems and questions about input-output models.
- 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?
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Staff Review
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.
