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:

P=4x+4x+10=8x+10P = 4x + 4x + 10 = 8x + 10

where xx 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 x=40x = 40 into the profit function:

P=8(40)+10=320+10=330 dollarsP = 8(40) + 10 = 320 + 10 = 330 \text{ dollars}

2. Calculating the Marginal Profit:

The marginal profit is the derivative of the profit function with respect to xx. The profit function is:

P=8x+10P = 8x + 10

Taking the derivative with respect to xx:

P=ddx(8x+10)=8P' = \frac{d}{dx}(8x + 10) = 8

So, the marginal profit is 8 dollars, which is constant and does not depend on xx.

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:

  1. How would the profit change if the number of magazines sold increases by 10?
  2. What is the profit when selling 50 magazines per month?
  3. How would a change in the profit function affect the marginal profit?
  4. Can you find the breakeven point where the profit is zero?
  5. 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.

Ask a new question for Free

By Image

Drop file here or Click Here to upload

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