6 ### Using Sales Information to Calculate Profit**Question:**What is the expected profit if Yaster Inc. produces and sells 22,798 thingamabobs?\$__________. Round to the nearest dollar.**Note:** The profit may be negative if Yaster Inc. experiences a loss.---**Explanation:**To find the expected profit, use the provided sales information. Profit is calculated by subtracting total costs from total revenue. If the total costs are higher than the total revenue, the profit will be a negative number, indicating a loss.---The empty box below the note is where you can input your answer. # Thingamabob SalesYaster Inc. is trying to enter the thingamabob market. The research department established the following price-demand, cost, and revenue functions:| Function | Formula | Description ||----------|---------|--------------------------------|| $ p(x) $ | $ 57 - 1.14x $ | Price-demand function || $ C(x) $ | $ 215 + 11x $ | Cost function || $ R(x) $ | $ xp(x) = x(57 - 1.14x) $ | Revenue function |where $ x $ is in thousands of thingamabobs and $ C(x) $ and $ R(x) $ are in thousands of dollars. The price $ p(x) $ is the price in dollars of one thingamabob when the demand is $ x $ thousand thingamabobs. All three functions have the domain $ 1 \leq x \leq 50 $.

A company's total revenue is the sum of the money it brings in through the sale of its products and…

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What is the expected profit if Yaster Inc. produces and sells 22,798 thingamabobs? $ Round to the nearest dollar. Note: The profit may be negative, if Yaster Inc. experiences a loss.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

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Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

# Thingamabob Sales

Yaster Inc. is trying to enter the thingamabob market. The research department established the following price-demand, cost, and revenue functions:

| Function | Formula | Description |
|----------|---------|--------------------------------|
| $ p(x) $ | $ 57 - 1.14x $ | Price-demand function |
| $ C(x) $ | $ 215 + 11x $ | Cost function |
| $ R(x) $ | $ xp(x) = x(57 - 1.14x) $ | Revenue function |

where $ x $ is in thousands of thingamabobs and $ C(x) $ and $ R(x) $ are in thousands of dollars. The price $ p(x) $ is the price in dollars of one thingamabob when the demand is $ x $ thousand thingamabobs. All three functions have the domain $ 1 \leq x \leq 50 $.

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