For a certain company, the cost for producing a items is 40x +300 and the revenue for selling a items is 80r – 0.5x2. The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling r items. We assume that the company sells all of the items that it produces. (Hint: it is a quadratic polynomial.) Part b: Find two values ofx that will create a profit of $300. The field below accepts a list of numbers or formulas separated by semicolons (e.g. 2; 4; 6 or I + 1; z - 1). The order of the list does not matter. To enter Va, type sqrt(a). Part c: Is it possible for the company to make a profit of $15,000?
For a certain company, the cost for producing a items is 40x +300 and the revenue for selling a items is 80r – 0.5x2. The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling r items. We assume that the company sells all of the items that it produces. (Hint: it is a quadratic polynomial.) Part b: Find two values ofx that will create a profit of $300. The field below accepts a list of numbers or formulas separated by semicolons (e.g. 2; 4; 6 or I + 1; z - 1). The order of the list does not matter. To enter Va, type sqrt(a). Part c: Is it possible for the company to make a profit of $15,000?
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section: Chapter Questions
Problem 22T: On the first part of a 350-kilometer trip, a salesperson travels 2 hours and 15 minutes at an...
Related questions
Question
![Solve the problem below. For your initial post in Brightspace, copy the description of your company given in the box below and then enter your solution to all three parts (parts a, b, and c) of the problem. To copy the description of your company, highlighting and using "copy" from here in Mobius and then using "paste" into Brightspace should work. However, if when you copy and paste \( x^2 \) you get \( x \) 2 instead, then change your \( x2 \) to \( x^2 \).
Hint: We covered this topic in "2-1 Reading and Participation Activities: Quadratic Equations" in Module Two. You can check your answer to part b to make sure that you are on the right track.
---
For a certain company, the cost for producing \( x \) items is \( 40x + 300 \) and the revenue for selling \( x \) items is \( 80x - 0.5x^2 \).
The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit!
**Part a:** Set up an expression for the profit from producing and selling \( x \) items. We assume that the company sells all of the items that it produces. (Hint: it is a quadratic polynomial.)
**Part b:** Find two values of \( x \) that will create a profit of $300.
The field below accepts a list of numbers or formulas separated by semicolons (e.g. 2; 4; 6 or \( x+1; x-1 \)). The order of the list does not matter. To enter \( \sqrt{a} \), type sqrt(a).
\( x = \) [ ]
**Part c:** Is it possible for the company to make a profit of $15,000?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdd447044-2d2d-49a5-ae6a-64332b65b635%2Fed8ebaa4-87c2-439a-b034-57360eed3118%2F5qfi5s4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Solve the problem below. For your initial post in Brightspace, copy the description of your company given in the box below and then enter your solution to all three parts (parts a, b, and c) of the problem. To copy the description of your company, highlighting and using "copy" from here in Mobius and then using "paste" into Brightspace should work. However, if when you copy and paste \( x^2 \) you get \( x \) 2 instead, then change your \( x2 \) to \( x^2 \).
Hint: We covered this topic in "2-1 Reading and Participation Activities: Quadratic Equations" in Module Two. You can check your answer to part b to make sure that you are on the right track.
---
For a certain company, the cost for producing \( x \) items is \( 40x + 300 \) and the revenue for selling \( x \) items is \( 80x - 0.5x^2 \).
The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit!
**Part a:** Set up an expression for the profit from producing and selling \( x \) items. We assume that the company sells all of the items that it produces. (Hint: it is a quadratic polynomial.)
**Part b:** Find two values of \( x \) that will create a profit of $300.
The field below accepts a list of numbers or formulas separated by semicolons (e.g. 2; 4; 6 or \( x+1; x-1 \)). The order of the list does not matter. To enter \( \sqrt{a} \), type sqrt(a).
\( x = \) [ ]
**Part c:** Is it possible for the company to make a profit of $15,000?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.Recommended textbooks for you
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell