Solve the Problem. -In Economics, Functions That Involve Revenue, Cost and Profit Are

question 77

Multiple Choice

Solve the problem.
-In economics, functions that involve revenue, cost and profit are used. Suppose R(x) and C(x) denote the total revenue and the total cost, respectively, of producing a new high-tech widget. The difference P(x) = R(x) - C(x)
Represents the total profit for producing x widgets. Given x widgets. Given a and C(x) = 3x + 13, find P(100) .

• A) 55687
• B) 313
• C) 2000
• D) 1687

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Definitions:

Co-Insurance

A type of insurance coverage in which the insurer and the insured share losses incurred according to a specified formula.

Insured

A person or entity covered by an insurance policy, receiving protection against specified risks or damages.

Risk Of Loss

In contractual terms, refers to which party bears the financial burden if the goods are damaged or lost before delivery is completed.

Fire

A rapid oxidation process, which is a chemical reaction resulting in the release of heat and light, commonly seen as flames.