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P D P R E Key Concepts P R E where P is profit R...

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P D P R E Key Concepts P R E where P is profit R is revenue and E is expenses The vertex of a profit function lies on the axis of symmetry The vertex of a profit function contains the maximum profit Maximum profit can be found on the graph where the difference between the revenue and expense functions is the greatest Guided Exercises FunFleece Incorporated manufactures fleece hats It is considering making a new type of weatherproof fleece hat The expense and revenue functions are E 300p 150 000 and R 300p2 29 000p 1 Determine the profit function P Date Substitute the expense function for E and the revenue function for R P 300p2 29 000p 300p 150 000 P Mod The profit function is P 2 Use the equation from Exercise 1 Determine the maximum profit to the nearest cent Determine the price that yields maximum profit Find the maximum of the profit equation Axis of symmetry b 2a Substitute the price p into the profit equation from Exercise 1 Axis of symmetry 2

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