Question

Profit is defined as total revenue minus total cost. The profit function of a company that manufactures and sells x units of a product is given by P(x)= R(x)-C(x), where

Prepresents the company's profits, R represents the company's revenue, and C represents the company's cost. If a company sells a calculator for $11, its revenue
function is R(x)=11x. The cost of each calculator manufactured is $8. In addition, it renewed its lease on the plant, so its weekly fixed costs are $1220.
(a) Determine the profit function. (b) Determine and interpret P(800)

Answer 1

a.) P(x)= 3x - 1120

b.) make $1,180 profit in 1 week by selling 800 calculators

Explanation:

a.) P(x)=R(x)-C(x)

R(x)=11x; C(x)=8x + 1220 assuming they are asking for profit in a week

P(x)= 3x - 1220

b.) P(800) = 3(800) -1220 = 1180