4) Suppose that x thousand units of a product will be sold when the price is p(x) = -2x + 31 dollars per unit and that the cost of producing x thousand units is C(x) = 7x +5 thousand dollars. (a) Express the profit P(x) obtained from the sale of x thousand units as a function of x. (b) What level of production results in a maximum profit? (c) What is the maximum profit obtained?

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter9: Polynomial And Rational Functions
Section9.4: Graphing Polynomial Functions
Problem 44PS: A company determines that its weekly profit from manufacturing and selling x units of a certain item...
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4) Suppose that x thousand units of a product will be sold when the price is p(x) = -2x + 31 dollars per unit and that
the cost of producing x thousand units is C(x) = 7x +5 thousand dollars.
(a) Express the profit P(x) obtained from the sale of x thousand units as a function of x.
(b) What level of production results in a maximum profit?
(c) What is the maximum profit obtained?
Transcribed Image Text:4) Suppose that x thousand units of a product will be sold when the price is p(x) = -2x + 31 dollars per unit and that the cost of producing x thousand units is C(x) = 7x +5 thousand dollars. (a) Express the profit P(x) obtained from the sale of x thousand units as a function of x. (b) What level of production results in a maximum profit? (c) What is the maximum profit obtained?
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