Pearl Ltd. intends to manufacture and market vegetable crates. Their research department has derived the price-demand equation and the cost function, respectively as: x=10,000-40p and C(x)=180,000+30p where x is the number of crates that can be sold at $p per unit and C(x) represents the total cost of producing x crates. d. Determine the Revenue , R(x) and Profit, P(x) functions.

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.1: Quadratic Functions
Problem 6SC: A company that makes and sells baseball caps has found that the total monthly cost C in dollars of...
icon
Related questions
Question

Pearl Ltd. intends to manufacture and market vegetable crates. Their research department has derived the price-demand equation and the cost function, respectively as:

x=10,000-40p and C(x)=180,000+30p

where x is the number of crates that can be sold at $p per unit and C(x) represents the total cost of producing x crates.

d. Determine the Revenue , R(x) and Profit, P(x) functions.

Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Recommended textbooks for you
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning