Question
For a certain company, the cost for producing x items is 55x + 300 and the revenue for selling x items is 95x 0.5x^2. The
For a certain company, the cost for producing x items is 55x + 300 and the revenue for selling x items is 95x 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.
Part b: Find two values of x that will create a profit of $300.
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