Math Problem Statement
P = 4x + 4x+10
where x is the number of magazines you sell in a month. If you are currently selling 40 magazines per month, find your profit and your marginal profit, in dollars. (Round your answers to the nearest cent.)
Solution
Given the profit function:
where is the number of magazines sold in a month. We need to find the profit and the marginal profit when selling 40 magazines per month.
1. Calculating the Profit:
Substituting into the profit function:
2. Calculating the Marginal Profit:
The marginal profit is the derivative of the profit function with respect to . The profit function is:
Taking the derivative with respect to :
So, the marginal profit is 8 dollars, which is constant and does not depend on .
Summary:
- Profit when selling 40 magazines: $330.00
- Marginal profit: $8.00 per magazine
Would you like any additional details or explanations? Here are some related questions to consider:
- How would the profit change if the number of magazines sold increases by 10?
- What is the profit when selling 50 magazines per month?
- How would a change in the profit function affect the marginal profit?
- Can you find the breakeven point where the profit is zero?
- What happens to the profit if fixed costs are increased by $20?
Tip: Understanding marginal profit helps in determining how additional sales affect your overall profit, which is essential for making strategic business decisions.
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Math Problem Analysis
Mathematical Concepts
Linear Equations
Differentiation
Profit Function
Formulas
Profit function P(x) = 8x + 10
Marginal profit P'(x) = dP/dx = 8
Theorems
Derivative of a linear function
Suitable Grade Level
Grades 10-12
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