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The profit for a product can be described by the function \( \mathrm{P}(\mathrm{x})=212 \mathrm{x}-5000-\mathrm{x}^{2} \) dollars, where x is the number of units produced and sold. To maximize profit, how many units must be produced and sold? What is the maximum possible profit? To maximize profit, 106 units must be produced and sold. (Simplify your answer.) The maximum possible profit is \( \$ \square \) (Simplify your answer.)

Ask by Collins Wells. in the United States
Jan 24,2025

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Tutor-Verified Answer

Answer

To maximize profit, 106 units must be produced and sold. The maximum possible profit is \$6,236.

Solution

To determine the maximum possible profit, substitute \( x = 106 \) into the profit function \( \mathrm{P}(\mathrm{x}) = 212\mathrm{x} - 5000 - \mathrm{x}^2 \): \[ \mathrm{P}(106) = 212 \times 106 - 5000 - 106^2 \] Calculate each term step-by-step: 1. **Calculate \( 212 \times 106 \):** \[ 212 \times 100 = 21,200 \] \[ 212 \times 6 = 1,272 \] \[ 21,200 + 1,272 = 22,472 \] 2. **Calculate \( 106^2 \):** \[ 106 \times 106 = 11,236 \] 3. **Substitute the values back into the profit function:** \[ \mathrm{P}(106) = 22,472 - 5,000 - 11,236 \] \[ \mathrm{P}(106) = 22,472 - 16,236 = 6,236 \] **Therefore:** - **Number of units to produce and sell for maximum profit:** 106 units - **Maximum possible profit:** \$6,236 \(\boxed{\$6,\!236}\)

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Bonus Knowledge

To determine the number of units that maximizes profit, we need to analyze the profit function \( P(x) = 212x - 5000 - x^2 \). This is a concave quadratic equation and reaches its maximum at the vertex. The x-coordinate of the vertex can be found using the formula \( x = -\frac{b}{2a} \), where \( a = -1 \) and \( b = 212 \). Plugging in these values, we get \( x = -\frac{212}{2 \times -1} = 106 \). Now, for the maximum profit, substitute \( x = 106 \) back into the profit function: \[ P(106) = 212(106) - 5000 - (106)^2 = 22512 - 5000 - 11236 = 22512 - 16236 = 6276. \] So the maximum possible profit is \( \$6276 \). In summary, to maximize profit, 106 units must be produced and sold, and the maximum possible profit is \( \$6276 \).

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