(a) What is the Cost(C) for a company to produce 500 widgets and what is the Profit (P)

Question

The cost (C) for a company to produce x widgets is given by C(x)=5250 + 7.0x. The company has determined that the profit (P) for x widgets is by P(x)=-0.02x^2 +38.0x - 5250

Answer 1

x = 500 widgets

 

C(500) = 5250 + 7.0*(500) = 5250 + 3500 = $8750 cost to produce 500 widgets

 

P(500) = -0.02*(500)² + 38.0*(500) - 5250 = -5000 + 19,000 - 5250 = $8750 profit from 500 widgets