Need help with D please A company tracking its profits notices that therelationship between the number of items sold, x, andthe profit function, P(x), is linear. The companyknows that selling 190 items results in $3520 profit andselling 240 items results in $6420 profit.a. Which two (input, output) ordered pairs correspondto the given data?(190,240), (3520, 6420)(3520,190, 6420, 240)(190,3520), (240,6420)58(240,190),(6420,3520)b. What is the slope of the profit function?Part 2 of 5 selling 240 items results in $6420 profit.a. Which two (input, output) ordered pairs correspondto the given data?(190,240), (3520, 6420)(3520, 190, 6420, 240)● (190,3520), (240,6420)(240,190), (6420,3520)b. What is the slope of the profit function?58d. What is the marginal profit?Part 2 of 5c. Find the profit function, P(x). Write your answerin mx + b form.P(x) = 58x - 7500$/itemPart 3 of 5Part 4 of 5

The profit function shows the profit earned by a firm. Profit equals total revenue minus total…

Answered: d. What is the marginal profit? $/item

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d. What is the marginal profit? $/item

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Need help with D please

A company tracking its profits notices that the
relationship between the number of items sold, x, and
the profit function, P(x), is linear. The company
knows that selling 190 items results in $3520 profit and
selling 240 items results in $6420 profit.
a. Which two (input, output) ordered pairs correspond
to the given data?
(190,240), (3520, 6420)
(3520,190, 6420, 240)
(190,3520), (240,6420)
58
(240,190),(6420,3520)
b. What is the slope of the profit function?
Part 2 of 5

selling 240 items results in $6420 profit.
a. Which two (input, output) ordered pairs correspond
to the given data?
(190,240), (3520, 6420)
(3520, 190, 6420, 240)
● (190,3520), (240,6420)
(240,190), (6420,3520)
b. What is the slope of the profit function?
58
d. What is the marginal profit?
Part 2 of 5
c. Find the profit function, P(x). Write your answer
in mx + b form.
P(x) = 58x - 7500
$/item
Part 3 of 5
Part 4 of 5

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