The Daily Profit in Dollars Made by an Automobile Manufacturer $P ( x ) = - 45 x ^ { 2 } + 2,250 x - 18,000$

question 6

Multiple Choice

The daily profit in dollars made by an automobile manufacturer is $P ( x ) = - 45 x ^ { 2 } + 2,250 x - 18,000$ where x is the number of cars produced per shift. Find the maximum possible daily profit.

• A) $8,075
• B) $9,448
• C) $10,125
• D) $15,275

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Definitions:

Constant Returns

A situation in economics where increasing the scale of production does not affect the long-run average cost of production, implying it remains constant.

Initial Plant Sizes

The original capacity or scale of a facility when it first begins operations.

Purely Competitive

Characterizes a theoretical market structure emphasizing perfect competition, where numerous small firms face no barriers to entering or exiting the market.

Long Run

A period in which all inputs, including capital, are variable, allowing firms to adjust all factors of production.