Assume That the Profit P Made When T $t > 0$

question 207

Multiple Choice

Assume that the profit P made when t units are sold, $t > 0$ is given by $P ( t ) = t ^ { 2 } - 28 t + 180$ For what values of t will there be a loss (that is, $\mathrm { P } < 0 \}$ ?

• A) t=10 or t=18
• B) \(0 < \mathrm { t } < 10 \text { or } \mathrm { t } > 18\)
• C) \(10 < t < 18\)
• D) \(t > 0\)

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Definitions:

Creates Shortage

A market condition where the quantity demanded exceeds the quantity supplied at a given price, often due to price controls like price ceilings.

Price Floor

A government-imposed minimum price level for a particular commodity or service, aimed at protecting producers.

Legal Minimum

A legally established lower threshold for payments or conditions, such as minimum wage.

Good Sold

Refers to a product that has been purchased by a buyer from a seller in a transaction.