SOLUTION: annual profit in thousands of dollars is given by the function, P(x)=5000-(1000/x-1)), where x is the number of items sold in the thousands, x>1.
question: describe the meaning
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-> SOLUTION: annual profit in thousands of dollars is given by the function, P(x)=5000-(1000/x-1)), where x is the number of items sold in the thousands, x>1.
question: describe the meaning
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Question 465032: annual profit in thousands of dollars is given by the function, P(x)=5000-(1000/x-1)), where x is the number of items sold in the thousands, x>1.
question: describe the meaning of 5000 in the equation and describe the number of 1 in the equation.
i think the 5000 is the total profit???? and i have no clue what the 1 is for...
Thank you for your time. Answer by solver91311(24713) (Show Source):
5000 (thousands) is the limiting amount of profit. It is theoretically the greatest profit that could be realized if the business were able to sell an infinite number of units in a given year. That is because is in the denominator of the fraction that is subtracted from 5000 -- as gets very large, the size of the fraction becomes very small, so the value of the profit function gets closer and closer to 5000. The 1 is simply a horizontal adjustment to the model (for a larger constant in the denominator, the model would have a larger restriction on the value of but it would require selling fewer units to approach the profit limit and would require selling more units to avoid a loss).
As gets smaller and approaches 1, the fraction starts to get very large and you have to subtract larger and larger amounts from the 5000 to obtain the annual profit. I'll leave it as an exercise for the student to determine the number of units sold that would result in zero profit. Hint: is in thousands of units and there is nothing that says has to be an integer, though it must remain larger than 1.
John
My calculator said it, I believe it, that settles it
