Problem

A well-drilling company finds that its marginal profit, in dollars, from drilling a well that is x feet deep is given by P(x)=x3. Find the company's profit from drilling a well that is 240 feet deep. Round to the nearest cent as needed.
A: $1,491.47
B. $1,118.60
C. $2,478.71
D. $1,988.63

Answer

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Answer

Final Answer: $1,118.60

Steps

Step 1 :The marginal profit is the derivative of the profit function. To find the total profit, we need to integrate the marginal profit function from 0 to 240 feet.

Step 2 :Let's denote the marginal profit function as P(x)=x13.

Step 3 :The total profit is then given by the integral of the marginal profit function from 0 to 240, which is P(x)=0240P(x)dx.

Step 4 :By calculating the integral, we find that the total profit is approximately 1118.60.

Step 5 :Thus, the company's profit from drilling a well that is 240 feet deep is approximately $1118.60.

Step 6 :Final Answer: $1,118.60

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