The cost, in dollars, for a company to produce

The cost, in dollars, for a company to produce xCxx xpxxx
widgets is given by () = 5250 + 7.00 for

³ 0, and the price-demand function, in dollars per widget, is () = 45 – 0.02 for 0 £ £ 2250.

In Quiz 2, problem #10, we saw that the profit function for this scenario is

P(x) = – 0.02×2 + 38.00x – 5250.

(a) The profit function is a quadratic function and so its graph is a parabola.

Does the parabola open up or down? __________

(b) Find the vertex of the profit function P(x) using algebra. Show algebraic work.

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