Identifying the Point of Intersection

Front

What is the breakeven point in a business context?

Back

The breakeven point is the level of sales at which total revenues equal total costs, resulting in neither profit nor loss.

Front

How do you calculate the breakeven point in units?

Back

Breakeven Point (units) = Fixed Costs / (Selling Price per Unit - Variable Cost per Unit)

Front

What are fixed costs?

Back

Fixed costs are expenses that do not change with the level of goods or services produced, such as rent, salaries, and insurance.

Front

What are variable costs?

Back

Variable costs are expenses that vary directly with the level of production or sales, such as materials and labor.

Front

If a ticket costs $10 and the fixed costs are $4000, how many tickets must be sold to breakeven?

Back

400 tickets

Front

What is the slope-intercept form of a linear equation?

Back

The slope-intercept form is y = mx + b, where m is the slope and b is the y-intercept.

Front

If m=2 and b=5, what is the slope-intercept equation?

Back

y = 2x + 5

Front

What does the slope of a line represent?

Back

The slope represents the rate of change of y with respect to x, indicating how steep the line is.

Front

What is an intersection point in the context of linear equations?

Back

The intersection point is the point where two lines meet, representing the solution to the system of equations.

Front

If two lines are parallel, what can be said about their slopes?

Back

If two lines are parallel, they have the same slope.