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A company charting its profits notices that the relationship between the number of units sold, x, and the profit, P, is linear. If 190 units sold results in $2140 profit and 240 units sold results in $4940 profit, write the profit function for this company. P= Find the marginal profit.

A company charting its profits notices that the relationship between the number of units sold, x, and the profit, P, is linear. If 190 units sold results in $2140 profit and 240 units sold results in $4940 profit, write the profit function for this company. P= Find the marginal profit.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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A company charting its profits notices that the relationship between the number of units sold, x, and the profit, P, is linear. If 190 units sold results in $2140 profit and 240 units sold results in $4940 profit, write the profit function for this company. P = Find the marginal profit. $
Transcribed Image Text:A company charting its profits notices that the relationship between the number of units sold, x, and the profit, P, is linear. If 190 units sold results in $2140 profit and 240 units sold results in $4940 profit, write the profit function for this company. P = Find the marginal profit. $
Expert Solution
Step 1

The equation of line that passes through the points: x1, y1 and x2, y2 is calculated using the formula: y-y1=y2-y1x2-x1x-x1.

The change in the total profit, when one additional unit of a product is sold is called the marginal profit.

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