Answered

IDNLearn.com is your go-to resource for finding precise and accurate answers. Our platform offers comprehensive and accurate responses to help you make informed decisions on any topic.

For a certain company, the cost function for producing x items is C(x)=50x+100 and the revenue function for selling x items is R(x)=−0.5(x−100)2+5,000 . The maximum capacity of the company is 120 items.



The profit function P(x) is the revenue function R(x) (how much it takes in) minus the cost function C(x) (how much it spends). In economic models, one typically assumes that a company wants to maximize its profit, or at least make a profit!



Answers to some of the questions are given below so that you can check your work.



Assuming that the company sells all that it produces, what is the profit function?
P(x)=

Sagot :

Abiolataiwo2015idn

Assuming that the company sells all that it produces, The profit function is: P(x)=-x^/2+50x -100 or P(x)=-0.5x²+50x -100.

Profit function

Profit = R-C = -(x-100)^2/2 +5000 - 50x -100 =

-(x^2 -200x +10000)/2 -50x +4900 =

-x^2/2 +100x -5000 +5000 -50x +4900

Collect like terms

-x^/2+50x -100

Hence,

Profit function = P(x)=-0.5x²+50x -100

Maximum profit generating output  can be determine by taking the derivative and setting it equal to zero

R-C = -x^2/2 + 50x -100

R'-C' = -x + 50 =0

P(0)x = 50

Maximum profit  can be determine by substituting x=50 into the original profit equation, R-C

P(50) =-(1/2)(50)^2 +50(50) -100

P(50)= -1250 + 2500 -100

P(50) = $1150 profit

P(120) =-(1/2)(120)^2 +50(120) -100

P(120)= -3600 + 6000 -100

P(120) = $2300 profit

Therefore the profit function is: P(x)=-x^/2+50x -100 or P(x)=-0.5x²+50x -100.

Learn more about profit function here:https://brainly.com/question/4618859

#SPJ1

We greatly appreciate every question and answer you provide. Keep engaging and finding the best solutions. This community is the perfect place to learn and grow together. Accurate answers are just a click away at IDNLearn.com. Thanks for stopping by, and come back for more reliable solutions.