Question

A company's monthly profit, P, from a product is given by P = -x^2+105x-1050, where x is the price of

product in dollars. What is the lowest price of the product, in dollars, that gives a monthly profit of $1550?

Answer 1

We are given that the monthly profit, P, from a product is given by the quadratic function:

P = -x^2 + 105x - 1050

To find the lowest price of the product that gives a monthly profit of $1550, we need to solve the equation:

• x^2 + 105x - 1050 = 1550

Rearranging this equation, we get:

• x^2 + 105x - 2600 = 0

To solve for x, we can use the quadratic formula:

x = (-b ± sqrt(b^2 - 4ac)) / 2a

where a = -1, b = 105, and c = -2600.

Substituting these values, we get:

x = (-105 ± sqrt(105^2 - 4(-1)(-2600))) / 2(-1)

x = (-105 ± sqrt(11025 - 10400)) / (-2)

x = (-105 ± sqrt(625)) / (-2)

We can simplify this expression to:

x = (-105 ± 25) / (-2)

Therefore, the two possible values of x are:

x = (-105 + 25) / (-2) = 40

x = (-105 - 25) / (-2) = 50

Since we are looking for the lowest price that gives a monthly profit of $1550, the answer is $40. Therefore, the lowest price of the product that gives a monthly profit of $1550 is $40.