Solve the problem.
-In economics, functions that involve revenue, cost and profit are used. Suppose R(x) and C(x) denote the total revenue and the total cost, respectively, of producing a new high-tech widget. The difference P(x) = R(x) - C(x)
Represents the total profit for producing x widgets. Given x widgets. Given a and C(x) = 3x + 13, find P(100).
A) 55687
B) 313
C) 2000
D) 1687

Question

Solve the problem.
-In economics, functions that involve revenue, cost and profit are used. Suppose R(x) and C(x) denote the total revenue and the total cost, respectively, of producing a new high-tech widget. The difference P(x) = R(x) - C(x)
Represents the total profit for producing x widgets. Given x widgets. Given  a and C(x) = 3x + 13, find P(100).
A) 55687 
B) 313 
C) 2000 
D) 1687

Quizplus · Accepted Answer

We need to first find the total revenue function R(x). It is not provided in the problem statement, so we cannot solve this problem fully. However, we can still find P(100) given C(x). Using the given information, we obtain P(x) = R(x) - C(x). 
So, 
P(100) = R(100) - C(100) 
We do not know R(100), but we can simplify C(100) using the given information: 
C(100) = 3(100) + 13 = 313 
Therefore, 
P(100) = R(100) - 313 
We don't have enough information to find R(100), so we cannot calculate the exact value of P(100). However, we can estimate it based on the answer choices. Only answer choice D) is close to 313 (the value of C(100)), so the best choice is D.

Solve the Problem. -In Economics, Functions That Involve Revenue, Cost and Profit Are