Ocus on Application Functions Specified By Equations

Select any concept from this week (I WILL PROVIDE CONCEPT BELOW) and write a 350 500 word response in which you:

1.) Examine the importance and applicability of the concept.
2.) Describe why this concept is important.
3.) Explain how it can be applied to society in general.

CONCEPT: Break Even and Profit loss analysis. I have attached chapter 2 which breifly discusses this concept on page 51.