Answer:
(a) The profit function is P(x)=14x-224,000.
(b) The company's profit at x=21000 is 70,000.
Step-by-step explanation:
Cost function is
Revenue function is
where, x is number of radios.
(a)
Formula for profit:
Profit = Revenue - Cost
The profit function is
The profit function is P(x)=14x-224,000.
(b)
Substitute x=21000 in the above equation to find the company's profit if 21,000 radios are produced and sold.
Therefore the company's profit at x=21000 is 70,000.