Write the Word or Phrase That Best Completes Each Statement $\left\{ \begin{array} { l } y = 1.3 x \\y = 0.5 x + 2500\end{array} \right.$

question 82

Short Answer

Write the word or phrase that best completes each statement or answers the question.
The revenue equation for a certain brand of mouthwash is y = 1.3x, where x is the number of bottles of mouthwash sold
and y is the total income for selling x bottles. The cost equation is y = 0.5x + 2500, where x is the number of bottles of
mouthwash manufactured and y is the cost of producing x bottles. The following set of axes shows the graph of the cost
and revenue equations.
-Find the coordinates of the point of intersection, or breakeven point, by solving the system and explain its meaning.
$\left\{ \begin{array} { l } y = 1.3 x \\y = 0.5 x + 2500\end{array} \right.$

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Definitions:

Inventory Accounting Method

Techniques used to calculate the cost of goods sold and value of inventory, including FIFO, LIFO, and weighted average cost methods.

Current Ratio

A financial metric assessing a firm's capability to settle debts due within a year.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations by comparing its current assets to its current liabilities.

Note Payable

A written promise to pay a specified amount of money, usually with interest, at a future date.