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 and C(x) = 3x + 13, find the
Equation for P(x).
C) P(x) = 3x + 13

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  and C(x) = 3x + 13, find the
Equation for P(x).
C) P(x) = 3x + 13

Quizplus · Accepted Answer

Since P(x) = R(x) - C(x), we need to know the equation for R(x). However, it is not given in the problem. Therefore, we cannot determine the equation for P(x) with the given information. Option B, which states that the equation for P(x) cannot be determined with the given information, is the most appropriate choice. P(x) = R(x) - C(x)
Given, R(x) = 5x - 2 and C(x) = 3x + 13
Substituting the values, we get:
P(x) = (5x - 2) - (3x + 13)
     = 2x - 15
Thus, the equation for P(x) is 2x - 15, which is option B.

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