A doll can make a Jennifer doll at a cost of $35 per doll. if the selling price of the doll is x pesos and the number of dolls sold per month is 500-x.
a. express the monthly profit in dollars as a function of x.
b. if the selling price of the doll is $85, determine the monthly profit. use the result in no.1
profit = revenue - cost
revenue = price * quantity. So,
p(x) = x(500-x)-35x
Now just plug in your data
Oops mixed up price and quantity
p(x) = x(500-x)-35(500-x)
= (x-35)(500-x)
assuming no extra dolls are made...
thanks... :)
For a certain product, the revenue is given by
R = 30x
and the cost is given by
C(x) = 10x + 1700.
To obtain a profit, the revenue must be greater than the cost. For what values of x will there be a profit?
a. To express the monthly profit in dollars as a function of x, we need to consider the cost of production and the revenue from selling the dolls.
The cost of producing each doll is given as $35. Since the number of dolls sold per month is given as 500 - x, the cost of production for each month would be (500 - x) * $35.
The revenue from selling the dolls can be calculated by multiplying the selling price (x pesos) by the number of dolls sold per month (500 - x). However, since we want to express the profit in dollars, we need to convert the revenue to dollars by dividing it by the conversion rate from pesos to dollars.
Assuming the conversion rate is 1 peso = $0.01, the revenue in dollars would be (500 - x) * (x * 0.01).
Therefore, the monthly profit in dollars as a function of x would be:
Profit(x) = Revenue - Cost
Profit(x) = (500 - x) * (x * 0.01) - (500 - x) * $35
b. If the selling price of the doll is $85, we can substitute x = $85 into the profit function we derived in part a to determine the monthly profit.
Profit($85) = (500 - $85) * ($85 * 0.01) - (500 - $85) * $35
Profit($85) = (415) * ($0.85) - (415) * $35
Evaluating this expression will give us the monthly profit in dollars when the selling price is $85.