Concept explainers
Profit The yearly profit P for a widget producer is a function of the number n of widgets sold. The formula is
Here P is measured in thousands of dollars, n is measured in thousands of widgets, and the formula is valid up to level of 20 thousand widgets sold.
a. Make a graph of P versus n.
b. Calculate P(0) and explain in practical terms. What your answer means.
c. What profit will the producer make if 15 thousand widgets are sold?.
d. The break-even point is the sales level at which the profit is 0. Approximate the break-even point for this widget producer.
e. What is the largest profit possible?
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