Profit A company has revenue given by R1x2 = 564xdollars and total cost given by C(x) = 40,000 + 64xdollars, where x is the number of units produced andsold. The profit can be found by forming the functionP(x) = R(x) - C(x).a. Write the profit function.b. Find the profit when 120 units are produced andsold.c. How many units give break-even?d. What is the marginal profit for this product?e. How is the marginal profit related to the marginalrevenue and the marginal cost?
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Profit A company has revenue given by R1x2 = 564x
dollars and total cost given by C(x) = 40,000 + 64x
dollars, where x is the number of units produced and
sold. The profit can be found by forming the function
P(x) = R(x) - C(x).
a. Write the profit function.
b. Find the profit when 120 units are produced and
sold.
c. How many units give break-even?
d. What is the marginal profit for this product?
e. How is the marginal profit related to the marginal
revenue and the marginal cost?
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