Question

A certain company's main source of income is selling cloth bracelets. The company's annual profit (in thousands of dollars) as a function of the price of a bracelet (in dollars) is modeled by: P(x)=-2x^2+16x-24. What is the maximum profit that the company can earn?

Answer 1

Answer:

8

Step-by-step explanation:

Answer 2

Answer:

8 thousand dollars

Step-by-step explanation:

The company's annual profit (in thousands of dollars) as a function of the price of a bracelet (in dollars) is modeled by: P(x)=-2x^2+16x-24

To find maximum profit , we need to find out the vertex

x coordinate of vertex formula is -b/2a

$P(x)=-2x^2+16x-24$

a=-2  and b = 16

$x= \frac{-b}{2a}= \frac{-16}{2(-2)} = 4$

Now we plug in 4 for x  and find out P(4)

$P(x)=-2(4)^2+16(4)-24$= 8

So the maximum profit the company can earn is 8 thousand dollars when price = $4