1. PLEASE HELP ME WITH THIS QUESTION. You are in charge of marketing a new super smart watch: The TimeBob. For a sales cycle, it costs a basic amount of $3,000, then $8 for each watch produced. When you set the price at $40 for a watch, you sell 300 units. If you increase the price by $4, you sell 8 units less. Let x be the number of watches produced. • a) Model the C(x) function, the production cost. • b) Model the p(x) function, the price per watch. • c) Model the function R(x), the income from production. • d) Model the P(x) function, the profit of production. • e) Find the value of x that maximizes profit. • f) Calculate P(x), the maximum profit. Submit the answer below. Note: Your answer must be written in decimal form with EXACTLY 2 decimal places of precision.
1.
PLEASE HELP ME WITH THIS QUESTION.
You are in charge of marketing a new super smart watch: The TimeBob. For a sales cycle, it costs a basic amount of $3,000, then $8 for each watch produced. When you set the price at $40 for a watch, you sell 300 units. If you increase the price by $4, you sell 8 units less. Let x be the number of watches produced.
• a) Model the C(x) function, the production cost.
• b) Model the p(x) function, the price per watch.
• c) Model the function R(x), the income from production.
• d) Model the P(x) function, the profit of production.
• e) Find the value of x that maximizes profit.
• f) Calculate P(x), the maximum profit. Submit the answer below.
Note: Your answer must be written in decimal form with EXACTLY 2 decimal places of precision.
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