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A company manufactures soup bowls. The price-demand is given by
p(x)= 600 − x,

where x is the number of soup bowls produced.

The fixed cost of production for this bowl is $5,075 and the variable cost is $48 per bowl.

What is the company's profit if they manufacture 250 bowls? Do not include a dollar sign or commas in your answer.

Respuesta :

A function assigns the values. The company's profit, if they manufacture 250 bowls, is 70425.

What is a Function?

A function assigns the value of each element of one set to the other specific element of another set.

Given that the price-demand is given by the function,

p(x) = 600 - x

Therefore, the price demand in the market if the company produces 250 bowls will be,

P(250) = 600 - 250 = 350

The total revenue that will be generated by selling 250 bowls will be,

Total revenue = Number of bowls produced × Price-demand of a bowl

                       = 250 × 350

                       = 87500

Now, the cost that the company will invest in producing 250 bowls will be,

Cost of production = Fixed cost + Variable cost

                                = 5075 + (48×250)

                                = 5075 + 12000

                                = 17075

Further, the profit that the company will make is,

Profit company make = Total revenue - Cost of production

                                    = 87500 - 17075

                                    = 70425

Hence, the company's profit, if they manufacture 250 bowls, is 70425.

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