Question
upstudy study bank question image url

The revenue from selling \( x \) necklaces is \( r(x)=10 x \) The cost of buying \( x \) necklaces is \( c(x)=4 x+15 \). The profit from selling \( x \) necklaces is \( p(x)=r(x)-c(x) \) Write a function for \( p(x) \), the profit from selling \( x \) necklaces. A. \( p(x)=6 x-15 \) B. \( p(x)=6 x+15 \) C. \( p(x)=14 x+15 \) D. \( p(x)=14 x-15 \)

Ask by Hart Marsh. in the United States
Jan 24,2025

Real Tutor Solution

Tutor-Verified Answer

Answer

The profit function is \( p(x) = 6x - 15 \).

Solution

Sign in to Unlock Answers for Free!

A Learning Platform Trusted by Millions of Real Students and Teachers.

star-icon Unlock

Reviewed and approved by the UpStudy tutoring team

Bonus Knowledge

To find the profit function \( p(x) \), we need to substitute the revenue and cost functions into the profit formula: 1. Revenue function: \( r(x) = 10x \) 2. Cost function: \( c(x) = 4x + 15 \) 3. Profit function: \( p(x) = r(x) - c(x) = 10x - (4x + 15) \) Now, let’s simplify it: \[ p(x) = 10x - 4x - 15 = 6x - 15 \] Thus, the profit function is \( p(x) = 6x - 15 \), which corresponds to option A. In the world of business, understanding profit functions is key to making informed decisions. This is especially vital for small business owners who may not realize the impact fixed costs (like the $15 in this case) have on their pricing strategies. Perfecting the balance between fixed and variable costs can mean the difference between a thriving business and one that struggles to stay afloat. When calculating profit, it’s crucial to also keep an eye on your break-even point—the point where total revenue equals total costs. For our example, this can be found by setting \( p(x) = 0 \), leading to \( 6x - 15 = 0 \). Solving this will help determine how many necklaces you need to sell to start making a profit, and it can guide your pricing and sales strategies!

Try Premium now!
Try Premium and ask Thoth AI unlimited math questions now!
Maybe later Go Premium
Study can be a real struggle
Why not UpStudy it?
Select your plan below
Premium

You can enjoy

Start now
  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to Answer and Solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic

Totally free but limited

  • Limited Solution
Welcome to UpStudy!
Please sign in to continue the Thoth AI Chat journey
Continue with Email
Or continue with
By clicking “Sign in”, you agree to our Terms of Use & Privacy Policy