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4 June, 17:46

If a company charges x dollars per item, it finds that it can sell 1500 - 3x of them. Each item costs $8 to produce.

(a) Express the revenue, R (x), as the function of price.

(b) Express the cost, C (x), as a function of price.

(c) Express the profit, P (x), which is revenue minus cost, as a function of price.

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  1. 4 June, 19:15
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    Step-by-step explanation:

    According to that the number of produced items is (1500-3x) where x is the price

    (a) the revenue is price*production

    (1500-3x) x = 1500x-3x^2

    (b) the cost is unitary cost*production

    8x

    (c) the profit is revenue - cost

    1500x-3x^2 - 8x = 1492x - 3x^2

    And according to that maximum profit is reached when the price is $249
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