Problem

4. (5pts) The profit function is defined to be the revenue minus the cost at the production level x. That is, the profit function P(x)=R(x)=C(x). Use your previous work to find P(x), then sketch the graph of this function.
Hint: use the domain found in Problem 1. R(x)=6400x0.002x2 and C(x)=85x+50000
Domain =[0,3200000]

Answer

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Answer

Thus, the profit function P(x) and its graph have been found.

Steps

Step 1 :First, we need to find the profit function P(x), which is the revenue function R(x) minus the cost function C(x).

Step 2 :Given that R(x)=6400x0.002x2 and C(x)=85x+50000, we can substitute these into the profit function.

Step 3 :So, P(x)=R(x)C(x)=(6400x0.002x2)(85x+50000).

Step 4 :Simplify the equation to get P(x)=6315x0.002x250000.

Step 5 :Next, we need to sketch the graph of this function. We can do this by finding the roots of the equation, the vertex, and the y-intercept.

Step 6 :The roots of the equation are the values of x when P(x)=0. So, we set 6315x0.002x250000=0 and solve for x.

Step 7 :However, this equation is a quadratic equation and it's a bit complex to solve. So, we can use the quadratic formula x=b±b24ac2a, where a=0.002, b=6315, and c=50000.

Step 8 :Substitute these values into the quadratic formula to get x=6315±631524(0.002)(50000)2(0.002).

Step 9 :Solving this equation gives us two roots, but we only consider the positive root because the quantity produced cannot be negative.

Step 10 :The vertex of the parabola is given by the formula x=b2a, where a=0.002 and b=6315. Substituting these values gives us x=63152(0.002).

Step 11 :The y-intercept is the value of P(x) when x=0. So, we substitute x=0 into the equation to get P(0)=50000.

Step 12 :With these points, we can sketch the graph of the function P(x)=6315x0.002x250000.

Step 13 :Finally, we check whether our results meet the requirements of the problem. The graph should be a downward-opening parabola with the vertex at the point calculated above, and it should intersect the x-axis at the roots calculated above. The y-intercept should be at P(0)=50000. The graph should also be within the domain [0,3200000].

Step 14 :Thus, the profit function P(x) and its graph have been found.

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