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Answer:
x = $36 , y = $ 838
Step-by-step explanation:
Solution:-
The company makes a profit of $y by selling widgets at a price of $x. The profit model is represented by a parabola ( quadratic ) equation as follows:
We are to determine the profit maximizing selling price ( x ) and the corresponding maximum profit ( y ).
From the properties of a parabola equation of the form:
The vertex ( turning point ) or maximum/minimum point is given as:
The profit maximizing selling price of widgets would be x = $36. To determine the corresponding profit ( y ) we will plug in x = 36 in the given quadratic model as follows:
The maximum profit would be y = $838