Question: The total revenue function for a product is given by R=655x dollars, and the total cost function for this same product is given by C=19,250+70x+x2,

The total revenue function for a product is given by

R=655x

dollars, and the total cost function for this same product is given by

C=19,250+70x+x2,

where C is measured in dollars. For both functions, the input x is the number of units produced and sold.

a. Form the profit function for this product from the two given functions.

b. What is the profit when

25

units are produced and sold?

c. What is the profit when

43

units are produced and sold?

d. How many units must be sold to break even on this product?

a. Write the profit function.

P(x)=

(Simplify your answer.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!