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

P represents the company's profits, R represents the company's revenue, and C represents the company's cost. If a company sells a calculator for $13, its revenue
function is R(x) = 13x. The cost of each calculator manufactured is $9. In addition, it renewed its lease on the plant, so its weekly fixed costs are $1240.
(a) Determine the profit function. (b) Determine and interpret P(700).

Answer 1

a.) P(x)= 4x - 1240

b.) make $1,560 profit in 1 week by selling 700 calculators

Explanation:

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

R(x)=13x; C(x)=9x + 1240 assuming they are asking for profit in a week

P(x)= 4x - 1240

b.) P(700) = 4(700) -1240 = 1560