SOLUTION: Someone kindly provide solutio to this....thankss
assume that a firm knows that the cost to make x items is given by the cost function C(x) = 6xsquare + 700x dollars. it also kn
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Quadratic Equations and Parabolas
-> SOLUTION: Someone kindly provide solutio to this....thankss
assume that a firm knows that the cost to make x items is given by the cost function C(x) = 6xsquare + 700x dollars. it also kn
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Question 854264: Someone kindly provide solutio to this....thankss
assume that a firm knows that the cost to make x items is given by the cost function C(x) = 6xsquare + 700x dollars. it also knows that the revenue from x items is given by the revenue function R(x) = 1000x + 400.
Required:
Maximum profit they can expectt and how many of these items they have to produce and sell to make this maximum profitt. Found 2 solutions by LinnW, Theo:Answer by LinnW(1048) (Show Source):
You can put this solution on YOUR website! The profit function P is
P(x) = R(x) - C(x)
P(x) = ( 1000x + 400 ) - ( 6x^2 + 700x )
P(x) = 1000x + 400 -6x^2 - 700x
P(x) = -6x^2 + 300x + 400
The vertex of a quadratic of the form f(x) = ax^2 + bx + c
is ( -b/2a , f( -b/2a ) )
For our equation, -b/2a = -(300)/2(-6) = 300/12 = 25
Substituting 25 for x in -6x^2 + 300x + 400
gives us -6(25)^2 + 300(25) + 400
-6(625) + 7500 + 400
3750 + 7500 + 400
3750 + 400
4150
So maximum profit is achieved when x = 25
Check out http://www.wolframalpha.com/input/?i=y+%3D+%28+1000x+%2B+400+%29+-+%28+6x%5E2+%2B+700x+%29+
to see the curve
