If the daily cost per unit of producing a product by the Ace Company is 20 + 0.2x dollars, and if the price on the competitive market is $70, what is the maximum daily profit the Ace Company can expect on this product?

I got $125. If someone could please explain what I did wrong I'd appreciate it.

$3125

Step-by-step explanation:

The profit is the revenue minus the cost.

p = (70) x − (20 + 0.2x) x

p = 70x − 20x − 0.2x²

p = -0.2x² + 50x

The maximum profit is at the vertex of the parabola.

x = -b / (2a)

x = -50 / (2 × -0.2)

x = 125

The maximum profit is:

p = -0.2(125)² + 50(125)

p = 3125

It seems you correctly found the number of units needed to maximize the profit, but you forgot to plug it back into the equation to get the profit.

$3125

Step-by-step explanation:

Cost = x(20 + 0.2x)

= 20x + 0.2x²

MC = 20 + 0.4x

MR = MC

70 = 20 + 0.4x

x = 125

Cost = 20 + 0.2x = 45

Profit per unit = 70 - 45 = 25

Total profit = 125×25 = $3125

question is incomplete.

step-by-step explanation:

1. practice, practice & more practice

2. review errors

3. master the key concepts

do not try to memorise the processes.

4. understand your doubts.

5. create a distraction free study environment

6. create a mathematical dictionary

7. apply maths to real world problems.