Figure 18-1

question 218

Essay

Figure 18-1. The figure shows the relationship between the number of mechanics hired and the number of car repairs performed per day at a car-repair shop.
-Refer to Figure 18-1. Suppose the shop pays each of its mechanics $210 per day. Over what interval of prices (that is, charges per car repair, P) would the shop maximize its profit by hiring exactly 3 mechanics? (Determine
and
such that
.)

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Definitions:

Cell Phones

Portable electronic devices that allow users to make voice calls, send text messages, and access various digital services.

Total Profit

The total income a business earns after subtracting all expenses and costs associated with its operations.

Marginal Benefit

The added value or enjoyment a consumer gets from using an additional unit of a product or service.

Gadgets Consumption

Refers to the purchase and use of technologically advanced or innovative electronic devices by consumers.