Explanation Given Information: The provided information is x units are brought for the price function p = − 0.27 x + 51 where revenue is the price times the number of items sold and cost function is C = − 0.12 x 2 + 12 x + 720 . Formula used: The distributive property over addition and subtraction for any real numbers a , b , c a ⋅ ( b + c ) = a ⋅ b + a ⋅ c a ⋅ ( b − c ) = a ⋅ b − a ⋅ c The profit function is the difference of revenue and cost. P = R − C Calculation: Consider the provided information, The x units are brought for the price function p = − 0.27 x + 51 where revenue is the price times the number of items sold and cost function is C = − 0.12 x 2 + 12 x + 720 . Substitute the price function p = − 0.27 x + 51 and apply the distributive property for the revenue function, R = x ⋅ ( − 0.27 x + 51 ) = − 0.27 x 2 + 51 x Apply the formula for profit function, P = − 0.27 x 2 + 51 x − ( − 0.12 x 2 + 12 x + 720 ) = − 0

1st Edition

ISBN: 9781259218859

Author: David Sobecki Professor, Brian A. Mercer

Publisher: McGraw-Hill Education

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Chapter 4.7, Problem 5A

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To calculate: The number of units sold and the price for the highest profit if x units are brought for the price function p=−0.27x+51 where revenue is the price times the number of items sold and cost function is C=−0.12x2+12x+720 by trial and error.

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Chapter 4.7, Problem 4A

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The number of units sold and the price for the highest profit if x units are brought for the price function p = − 0.27 x + 51 where revenue is the price times the number of items sold and cost function is C = − 0.12 x 2 + 12 x + 720 by trial and error.

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To calculate: The number of units sold and the price for the highest profit if x units are brought for the price function p=−0.27x+51 where revenue is the price times the number of items sold and cost function is C=−0.12x2+12x+720 by trial and error.

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