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GaryK [48]
2 years ago
12

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)=
Computers and Technology
1 answer:
solmaris [256]2 years ago
7 0

Assuming that this company sells all that it produces, the profit function would be given by P(x) = -0.5(x - 100)² + 5,000 - 50x - 100.

<h3>What is profit?</h3>

In Economics, profit can be defined as a measure of the amount of money (revenue) that is generated when the selling price is deducted from the cost price of a good or service, which is usually provided by producers.

This ultimately implies that, all producers generally work to maximize their profits and make them as large as possible, in order to enable them break even and successful.

Mathematically, the profit function P(x) of a business firm simply refers to the revenue function R(x) minus the cost function C(x):

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

Where:

  • R(x) represents how much it takes in.
  • C(x) represents how much it spends.

Substituting the given parameters into the formula, we have;

P(x) = -0.5(x - 100)² + 5,000 - (50x + 100)

P(x) = -0.5(x - 100)² + 5,000 - 50x - 100

Read more on maximized profit here: brainly.com/question/13800671

#SPJ1

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Programmers say the data items are ____ only within the module in which they are declared.
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Consider the following example in C++.


class MyClass
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What type of strategy is being used by a website like www.CNNMoney when it describes itself as ""a one-stop destination covering
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Assume that x is a char variable that has been declared and already given a value. Write an expression whose value is true if an
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The expression in python is: x.isdigit()

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In this scenario, two friends are eating dinner at a restaurant. The bill comes in the amount of 47.28 dollars. The friends deci
pickupchik [31]

Answer:

The java program for the given scenario is as follows.

import java.util.*;

import java.lang.*;

public class Main

{

   //variables for bill and tip declared and initialized

   static double bill=47.28, tip=0.15;

   //variables for total bill and share declared

   static double total, share1;

public static void main(String[] args) {

    double total_tip= (bill*tip);

    //total bill computed

    total = bill + total_tip;

    //share of each friend computed

    share1 = total/2;

    System.out.printf("Each person needs to pay: $%.2f", share1);  

}

}

Explanation:

1. The variables to hold the bill and tip percent are declared as double and initialized with the given values.

static double bill=47.28, tip=0.15;

2. The variables to hold the values of total bill amount and total tip are declared as double.

3. All the variables are declared outside main() and at class level, hence declared as static.

4. Inside main(), the values of total tip, total bill and share of each person are computed as shown.

double total_tip= (bill*tip);

total = bill + total_tip;

share1 = total/2;

5. The share of each person is displayed to the user. The value is displayed with only two decimal places which is assured by %.2f format modifier. The number of decimal places required can be changed by changing the number, i.e. 2. This format is used with printf() and not with println() method.

System.out.printf("Each person needs to pay: $%.2f", share1);  

6. The program is not designed to take any user input.

7. The program can be tested for any value of bill and tip percent.

8. The whole code is put inside a class since java is a purely object-oriented language.

9. Only variables can be declared outside method, the logic is put inside a method in a purely object-oriented language.

10. As shown, the logic is put inside the main() method and only variables are declared outside the method.

11. Due to simplicity, the program consists of only one class.

12. The output is attached.

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