Math Problem Statement
It has been determined that the cost of producing x units of a certain item is 8x+2608x+260. The demand function is given by p=D(x)=56−0.4xp=D(x)=56−0.4x.
Find the profit function.
Solution
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Math Problem Analysis
Mathematical Concepts
Cost function
Demand function
Revenue function
Profit function
Quadratic functions
Formulas
Cost function: C(x) = 8x + 260
Demand function: p = 56 - 0.4x
Revenue function: R(x) = 56x - 0.4x^2
Profit function: P(x) = R(x) - C(x)
Theorems
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Suitable Grade Level
Grades 10-12
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