A trader realizes 10x - x2 naira profit from the sale of x bags on corn. How many bags will give him the desired profit?
Answer Details
The trader's profit function can be represented as P(x) = 10x - x^2, where x is the number of bags sold and P(x) is the profit obtained from selling x bags of corn. To find the number of bags that will give him the desired profit, we need to maximize the profit function P(x).
We can do this by finding the derivative of P(x) with respect to x, and then setting it to zero to find the critical point(s) of the function.
P'(x) = 10 - 2x
Setting P'(x) to zero gives:
10 - 2x = 0
Solving for x gives:
x = 5
Therefore, the trader will make the maximum profit when he sells 5 bags of corn. This means that the answer is, 5.