Math Problem Statement

A TV manufacturer has the total cost function C(x)=72x+3600 (in dollars). The manufacturer sells the TVs to consumers for $372 each.  Let x represent the number of TVs manufactured and sold. 

What is the manufacturer's revenue function, R(x)?   R(x)=

What is the manufacturer's simplified profit function, P(x)?   P(x)=

What is the revenue from selling 336 items?   $

What is the cost of producing 336 items?   $  

What is the profit on 336 items?   $

Solution

Let's work through each part of the problem step by step.

1. Revenue Function:

The revenue function R(x)R(x) represents the total money earned from selling xx items. Since each TV is sold for $372, the revenue function is:

R(x)=372xR(x) = 372x


2. Profit Function:

The profit function P(x)P(x) is given by the difference between revenue and cost, i.e.,

P(x)=R(x)C(x)P(x) = R(x) - C(x)

Substitute R(x)=372xR(x) = 372x and C(x)=72x+3600C(x) = 72x + 3600 into the equation:

P(x)=372x(72x+3600)P(x) = 372x - (72x + 3600)

Simplify the equation:

P(x)=372x72x3600P(x) = 372x - 72x - 3600 P(x)=300x3600P(x) = 300x - 3600


3. Revenue from Selling 336 Items:

To find the revenue from selling 336 items, substitute x=336x = 336 into the revenue function:

R(336)=372×336R(336) = 372 \times 336

Calculating:

R(336)=125,092R(336) = 125,092

So, the revenue from selling 336 items is $125,092.


4. Cost of Producing 336 Items:

To find the cost of producing 336 items, substitute x=336x = 336 into the cost function:

C(336)=72×336+3600C(336) = 72 \times 336 + 3600

Calculating:

C(336)=24,192+3600=27,792C(336) = 24,192 + 3600 = 27,792

So, the cost of producing 336 items is $27,792.


5. Profit on 336 Items:

To find the profit from selling 336 items, substitute x=336x = 336 into the profit function:

P(336)=300×3363600P(336) = 300 \times 336 - 3600

Calculating:

P(336)=100,8003600=97,200P(336) = 100,800 - 3600 = 97,200

So, the profit from selling 336 items is $97,200.


Summary of Results:

  1. Revenue function: R(x)=372xR(x) = 372x
  2. Profit function: P(x)=300x3600P(x) = 300x - 3600
  3. Revenue from selling 336 items: $125,092
  4. Cost of producing 336 items: $27,792
  5. Profit on 336 items: $97,200

Would you like more details or have any questions?

Here are five related questions:

  1. What would the profit be if the manufacturer produced 500 items?
  2. How would the profit change if the price per TV were increased to $400?
  3. What is the break-even point (number of items sold where profit is zero)?
  4. How does a change in fixed costs affect the profit function?
  5. What is the marginal revenue for each additional TV sold?

Tip: When calculating profit, always consider both fixed and variable costs. This helps in understanding how scaling production affects profitability.

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Math Problem Analysis

Mathematical Concepts

Linear Functions
Revenue Calculation
Profit Calculation
Algebra

Formulas

Revenue function: R(x) = 372x
Cost function: C(x) = 72x + 3600
Profit function: P(x) = R(x) - C(x) = 300x - 3600

Theorems

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Suitable Grade Level

Grades 9-11