Math Problem Statement

Profit The weekly profit P for a widget producer is a function of the number n of widgets sold. The formula is P=-2 plus 2.9n minus 0.3n exponent 2.

Here P is measured in thousands of dollars, n is measured in thousands of widgets, and the formula is valid up to a level of 7 thousand widgets sold. a. Make a graph of P versus n.

Solution

Here is the graph of the profit PP versus the number of widgets sold nn. As you can see, the profit initially increases with the number of widgets sold but eventually declines as the quadratic term dominates.

Would you like more details on how to interpret this graph, or do you have any questions?

Here are some related questions you might consider:

  1. What is the maximum profit the company can achieve based on the formula?
  2. For how many widgets sold is the profit maximized?
  3. What is the breakeven point (where profit equals zero)?
  4. How does the quadratic term affect the behavior of the profit curve?
  5. What happens to the profit if more than 7,000 widgets are sold?

Tip: To find the maximum or minimum of a quadratic function, you can use the vertex formula n=b2an = -\frac{b}{2a}, where aa and bb are coefficients from the quadratic equation P(n)=an2+bn+cP(n) = an^2 + bn + c.

Ask a new question for Free

By Image

Drop file here or Click Here to upload

Math Problem Analysis

Mathematical Concepts

Algebra
Quadratic Functions
Graphing

Formulas

Quadratic function formula: P(n) = an^2 + bn + c
Vertex formula: n = -b / 2a

Theorems

Vertex formula for quadratic functions
Maxima and minima of quadratic equations

Suitable Grade Level

Grades 9-11