question 19 (1 point) for a given demand function p(x) and a given cost function c(x), the profit function…

question 19 (1 point) for a given demand function p(x) and a given cost function c(x), the profit function is a) xp(x) - c(x) b) xp(x) c) c(x) - p(x) d) p(x) - c(x)

question 19 (1 point) for a given demand function p(x) and a given cost function c(x), the profit function is a) xp(x) - c(x) b) xp(x) c) c(x) - p(x) d) p(x) - c(x)

Answer

Explanation:

Step1: Recall profit - revenue - cost relationship

Profit is revenue minus cost.

Step2: Find revenue function

Revenue $R(x)$ is price per unit times number of units. Given price function $p(x)$ and number of units $x$, $R(x)=xp(x)$.

Step3: Determine profit function

Profit $P(x)=R(x)-C(x)$. Substituting $R(x) = xp(x)$, we get $P(x)=xp(x)-C(x)$.

Answer:

A. $xp(x)-C(x)$