The demand function for a type of portable camping radio is given by the model:



The variable d is measured in dollars and x is measured in millions of units. The production cost is $15.00 per radio. Use the following information to answer the questions below.

revenue = demand times number sold
profit = revenue - cost

1. What do the terms profit, revenue, and demand mean in this context (radios)? Feel free to research the terms, but give the answers in your own words. (20 points)

2. Write an equation that shows profit as a function of x million radios sold. Show all of your steps! (30 points)

Hint 1: The number sold can be represented by x.

Hint 2: Find the revenue by using the demand equation.

Hint 3: Now, find the profit equation (don't forget that the cost is $15 per radio sold).

3. Graph the profit equation Links to an external site. to help you determine this next answer. How many radios sold would maximize the profit? Share your answer and a screenshot of your graph. (20 points)

4. Just for Fun: Have you ever been camping? Where would you like to go camping if you could? Or would you NOT like to ever go camping? (10 points)