Solve the Problem $\$ 4$ , So the Company's Revenue in Dollars For

question 297

Essay

Solve the problem.
-Marcus Tool and Die Company produces a specialized milling tool designed specifically for machining ceramic components. Each milling tool sells for $\$ 4$ , so the company's revenue in dollars for $x$ units sold is $R ( x ) = 4 x$ . The company's cost in dollars to produce $x$ tools can be modeled as $C ( x ) = 304 + 30 x ^ { 5 / 8 }$ . Use Newton's method to find the break-even point for the company (that is, find $x$ such that $C ( x ) = R ( x )$ ). Use $x = 370$ as your initial guess and show all your work.

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