Question

HELP!!!!
Economists find the company profit P by using the formula P=R-C where R is the total revenue generated by the business and C is the total cost of operating the business.
A) using data from past years, the economists determined that R(x) =0.0125x^2 +412x models total revenue, and C(x) = 12225 + 0.00135 x^3 models the total cost of doing business, where x is the number of customers patrnizing the business. how many customers must the company have to be profitable each year?
b) how many customers must there be for the company to realize an annual profit of $60,000??!?!???!?!

Answer 1

Hi! Profit = revenues - cost

Answer 2

For A -
you must find out where will
revenues > cost

so set
R(x) > C(x)
solve for X

Answer 3

for B
Profit = revenues - cost
profit given at 60000
so

60000 = r(x) - C(X)

SOLVE FOR X that will tell you #customers needed for 60K profit.

Post your answers, I will check them for you

Answer 4

For A, i set it up as 0.0125x^2 + 412x > 12,225 + 0.00135x^3
How do I solve for x like that?

Answer 5

yes that is correct. Using algebra rules...

Answer 6

treat the > like a =

note - you will have to use quadratic formula to find this out

Answer 7

I don't know how to do it, I've tried a lot of different ways and i still can't get it...

Answer 8

\[.0125x ^{2} + 412x = 12225 + .00135x ^{3}\]

Answer 9

\[.0125x ^{2}+412x-.00135^{3}=12225\]

Answer 10

let me wwork this out on paper and scan to you ugh this equation button :(

Answer 11

okay thank you very very much!

Answer 12

Please make sure your formulas above are correct.

is there an answer key to these. For A I am getting 29,957

Answer 13

http://www.wolframalpha.com/input/?i=60000+%3D+-0.00135+x%5E3++%2B0.0125x%5E2+%2B412x+-+12225

Answer 14

P(x)=−0.00135x3+0.0125x2+412x−12225

a.) x is between 30 and 541
b.) x is between 201 and 429

Answer 15

I copied it straight from the book and no there isn't. When I went online, they didn't have an answer to this either.

Answer 16

Okay thank you so much, it helped a lot!