Question

According to a theory of economics, government revenue can be given by the function f(x)= (x−100)(x−160)/240,0≤x≤100, where f(x) is government revenue (in billions of dollars) from a tax rate of x percent. Find the revenue from a tax rate of 40%.

Answer 1

To find the government revenue from a 40% tax rate using the function, substitute 40 for x, simplify, and calculate the result to get $30 billion in revenue.

Step-by-step explanation:

You've asked about finding the government revenue from a tax rate of 40% using the given function f(x) = (x−100)(x−160)/240, where f(x) represents the revenue in billions of dollars and x is the tax rate percentage. Let's calculate the revenue at a 40% rate:

So, the government will generate $30 billion in revenue from a tax rate of 40%.