45. PROFIT Suppose that when the price of a certain commodity is p dollars per unit, then x hundred units will be purchased by consumers, where p = 0.05x + 38. The cost of producing x hundred units is C(x) = 0.02x² + 3x + 574.77 hundred dollars. a. Express the profit P obtained from the sale of x hundred units as a function of x. Sketch the graph of the profit function. b. Find the average profit AP when the price is $37 per unit. c. Use the profit curve found in part (a) to determine the level of production x that results in maximum profit. What unit price p corresponds to maximum profit?
45. PROFIT Suppose that when the price of a certain commodity is p dollars per unit, then x hundred units will be purchased by consumers, where p = 0.05x + 38. The cost of producing x hundred units is C(x) = 0.02x² + 3x + 574.77 hundred dollars. a. Express the profit P obtained from the sale of x hundred units as a function of x. Sketch the graph of the profit function. b. Find the average profit AP when the price is $37 per unit. c. Use the profit curve found in part (a) to determine the level of production x that results in maximum profit. What unit price p corresponds to maximum profit?
Chapter2: Functions And Their Graphs
Section2.4: A Library Of Parent Functions
Problem 47E: During a nine-hour snowstorm, it snows at a rate of 1 inch per hour for the first 2 hours, at a rate...
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