Question

A meat department manager discovrs that she can sell m(x) killograms of ground beef in a week, where m(x) = 14 700 - 3040x, if she sells it at x dollars per kilogram. She pays her supplier $3.21/kg for the beef.
a) Determine an algebraic expression for P(x), where P(x) represents the total profit in dollars for 1 week.
b) Find the equation for the inverse relation.
c) Write an expression in function notation to represent the price that will earn $1900 in profit. Evaluate and explain.
d) Determine the price that will maximize profit.
e) The supply cost drops to $3.10/kg. What price should the manager set? How much profit will be earned at this price?

Answer 1

cost c(x) = 3.21*m(x)
revenue r(x) = x*m(x)
profit p(x) = r(x)-c(x)

Now go for it.