Question

The price that a company charged for a basketball hoop is given by the equation 50-x^2 where x is the number of hoops that are produced, in millions. It costs the company $30 to make each basketball hoop. The company recently reduced its production to 1 million hoops but maintained its profit of 15 million dollars. Approximately how many basketball hoops did the company previously produce to make the same profit?

Answer 1

To find the approximate number of basketball hoops the company previously produced to make the same profit, set up an equation and solve for x.

Step-by-step explanation:

To find the approximate number of basketball hoops the company previously produced to make the same profit, we can set up an equation using the given information. The company currently produces 1 million hoops and maintains a profit of 15 million dollars. So, the equation can be written as:

Profit = Revenue - Cost

15 = (50 - x²) - (30 * 1)

15 = 50 - x² - 30

15 = 20 - x²

x² = 5

x = √5

Since x represents the number of hoops produced in millions, the company previously produced approximately √5 million basketball hoops.

Answer 2

Step-by-step explanation:

Answer is 1.3 million hoops