Tyler Boone
11/28/2023 · Senior High School
A company charting its profits notices that the relationsthip between the mumber of units sold, s, and the profit, P, is linear. If 190 units sold results in \( \$ 2380 \) profit and 240 units sold results in \( \$ 4980 \) profit, write the profit function for this company. \( P=\square \) Find the marginal profit. \( \$ \square \)
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Tutor-Verified Answer
Step-by-step Solution
To find the profit function \( P(s) \) that relates the number of units sold \( s \) to the profit \( P \), we can use the information given about the two points:
1. When \( s = 190 \), \( P = 2380 \)
2. When \( s = 240 \), \( P = 4980 \)
Since the relationship is linear, we can express it in the form:
\[
P(s) = ms + b
\]
where \( m \) is the slope and \( b \) is the y-intercept.
### Step 1: Calculate the slope \( m \)
The slope \( m \) can be calculated using the formula:
\[
m = \frac{P_2 - P_1}{s_2 - s_1}
\]
Substituting the values:
\[
m = \frac{4980 - 2380}{240 - 190} = \frac{2600}{50} = 52
\]
### Step 2: Use one of the points to find \( b \)
Now that we have the slope \( m = 52 \), we can use one of the points to find \( b \). Let's use the point \( (190, 2380) \):
\[
P(190) = 52(190) + b
\]
\[
2380 = 9880 + b
\]
\[
b = 2380 - 9880 = -7500
\]
### Step 3: Write the profit function
Now we can write the profit function:
\[
P(s) = 52s - 7500
\]
### Step 4: Find the marginal profit
The marginal profit is the slope of the profit function, which we have already calculated as \( m = 52 \). Therefore, the marginal profit is:
\[
\$ 52
\]
### Final Answers
The profit function is:
\[
P = 52s - 7500
\]
The marginal profit is:
\[
\$ 52
\]
Quick Answer
The profit function is \( P = 52s - 7500 \). The marginal profit is \( \$ 52 \).
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