Part a: Set up an expression for the profit from producing and selling x items. We assume that the company sells all of the items that it produces. (Hint: it is a quadratic polynomial.) Part b: Find two values of x that will create a profit of $300.
Part a: Set up an expression for the profit from producing and selling x items. We assume that the company sells all of the items that it produces. (Hint: it is a quadratic polynomial.) Part b: Find two values of x that will create a profit of $300.
Chapter10: Cost Functions
Section: Chapter Questions
Problem 10.5P
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Transcribed Image Text:For a certain company, the cost for producing x items is 60x + 300 and the revenue
for selling x items is 100x – 0.5x².
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The profit that the company makes is how much it takes in (revenue) minus how much it
spends (cost). In economic models, one typically assumes that a company wants to
maximize its profit, or at least wants to make a profit!
Part a: Set up an expression for the profit from producing and selling x items. We
assume that the company sells all of the items that it produces. (Hint: it is a quadratio
polynomial.)
Part b: Find two values of x that will create a profit of $300.
The field below accepts a list of numbers or formulas separated by semicolons (e.g.
2; 4; 6 or x + 1; x – 1). The order of the list does not matter. To enter va, type
sqrt(a).
x =
Part c: Is it possible for the company to make a profit of $15,000?
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