Answer:
- The profit can be expressed as 70x + 50
- If 240 phones are sold, the profit amounts to $16,850
Detailed explanation:
The revenue function R(x) is provided as
The cost function C(x) is given as
Profit is calculated by subtracting cost from revenue, expressed as Profit = Revenue − Cost
We substitute the given revenue and cost functions into this formula.
Denote the profit function as P(x).
Therefore, the profit function formula simplifies to 70x + 50
Since x denotes the quantity of phones sold, to find the profit when 240 phones are sold, we substitute x = 240 into the profit expression above.
Hence, selling 240 phones yields a profit of $16,850