Question

In: Advanced Math

A company manufactures and sells scientific calculators. The function P=7.87.8x2plus+59705970xminus−290 comma 000290,000​, x≤​150, gives the profit...

A company manufactures and sells scientific calculators. The function P=7.87.8x2plus+59705970xminus−290 comma 000290,000​, x≤​150, gives the profit if x thousand calculators are manufactured and sold. Use the table feature of a graphing calculator or use a spreadsheet to make a table of values for the profit function with x=​0, 5, 10,​ ..., 150. Use the table to answer the following question.

Approximately how many calculators must be sold in order for the company to make a​ profit?

Solutions

Expert Solution

x in 1000's Profit
0        -2,90,000
5        -2,59,955
10        -2,29,520
15        -1,98,695
20        -1,67,480
25        -1,35,875
30        -1,03,880
35            -71,495
40            -38,720
45              -5,555
50              28,000
55              61,945
60              96,280
65          1,31,005
70          1,66,120
75          2,01,625
80          2,37,520
85          2,73,805
90          3,10,480
95          3,47,545
100          3,85,000
105          4,22,845
110          4,61,080
115          4,99,705
120          5,38,720
125          5,78,125
130          6,17,920
135          6,58,105
140          6,98,680
145          7,39,645
150          7,81,000

For X=45.832, Profit(P)=0

So the company has to manufacture and sell minimum of 45,832 calculators to make profit.


Related Solutions

The function P(x)=−1.5x^2+ 900x−4500 gives the profit when x units of a certain product are sold....
The function P(x)=−1.5x^2+ 900x−4500 gives the profit when x units of a certain product are sold. Find a) the profit when 75 units are sold  dollars b) the average profit per unit when 75 units are sold dollars per unit c) the rate that profit is changing when exactly 75 units are sold dollars per unit d) the rate that profit changes on average when the number of units sold rises from 75 to 150. dollars per unit e) The number...
Assume the demand function is D(p) = 150 – 5p (p is price). a. What is...
Assume the demand function is D(p) = 150 – 5p (p is price). a. What is the slope? 5(30-p) Oe=150-5p p=30 b. What is the y-intercept = 180 c. Using the definition of slope what does the demand do as price increases ∆푦 ∆푥 by $1? Demand will decrease by 2 d. Graph the function (p is on the x-axis, D(p) is on the y-axis). Hint: all you need are the x-intercept (set D(p) = 0 and solve for p)...
A probability distribution function P(x) for a random variable X is defined by P(x) = P...
A probability distribution function P(x) for a random variable X is defined by P(x) = P r{X ≤ x}. Suppose that we draw a list of n random variables X1, X2, X3 · · · Xn from a continuous probability distribution function P that is computable in O(1) time. Give an algorithm that sorts these numbers in linear average case time.
Market demand is p=100-3x. The cost function of the monopolist is given by C(x)=150+5x. To reduce...
Market demand is p=100-3x. The cost function of the monopolist is given by C(x)=150+5x. To reduce DWL, the regulator is considering imposing a price ceiling to maximize efficiency. Which one will have a higher DWL (alternatively, which one will be LESS effective as lowering the DWL of monopoly)?
The profit P, in thousands of dollars, that a manufacturer makes is a function of the...
The profit P, in thousands of dollars, that a manufacturer makes is a function of the number N, in thousands, of widgets produced in a year, and the formula is P(N)= 10N-N2-6.34. The formula is valid up to a level of 7,000 widgets produced. Express in functional notation the profit at a production level of 4,500 widgets. Calculate the value and explain the result in practical terms. What are the fixed costs? Determine the break-even point(s) for this manufacturer. What...
Cost Volume Profit Analysis Sports Company manufactures basketballs. The company has a standard ball that sells...
Cost Volume Profit Analysis Sports Company manufactures basketballs. The company has a standard ball that sells for $25. The variable cost are $ 15 per ball. Last year the company sold 30,000 balls. The fixed expenses are $ 210,000. Required. Prepare a Contribution Income Statement Compute the Contribution Margin per Unit, Variable Expense Ratio and Contribution Margin Ratio Compute the Break Even Point in dollars and units Compute the Margin of Safety Due to a increase in labor rates, the...
Product-Costing Accuracy, Plantwide and Departmental Rates, ABC Escuha Company produces two type of calculators: scientific and...
Product-Costing Accuracy, Plantwide and Departmental Rates, ABC Escuha Company produces two type of calculators: scientific and business. Both products pass through two producing departments. The business calculator is by far the most popular. The following data have been gathered for these two products: Product-Related Data Scientific Business Units produced per year 75,000 750,000 Prime costs $250,000 $2,500,000 Direct labor hours 100,000 1,000,000 Machine hours 50,000 500,000 Production runs 100 150 Inspection hours 2,000 3,000 Maintenance hours 2,250 9,000 Department Data...
Product-Costing Accuracy, Plantwide and Departmental Rates, ABC Escuha Company produces two type of calculators: scientific and...
Product-Costing Accuracy, Plantwide and Departmental Rates, ABC Escuha Company produces two type of calculators: scientific and business. Both products pass through two producing departments. The business calculator is by far the most popular. The following data have been gathered for these two products: Product-Related Data Scientific Business Units produced per year 75,000 750,000 Prime costs $232,000 $2,320,000 Direct labor hours 97,300 973,000 Machine hours 47,300 473,000 Production runs 100 150 Inspection hours 2,000 3,000 Maintenance hours 2,250 9,000 Department Data...
Product-Costing Accuracy, Plantwide and Departmental Rates, ABC Escuha Company produces two type of calculators: scientific and...
Product-Costing Accuracy, Plantwide and Departmental Rates, ABC Escuha Company produces two type of calculators: scientific and business. Both products pass through two producing departments. The business calculator is by far the most popular. The following data have been gathered for these two products: Product-Related Data Scientific Business Units produced per year 75,000 750,000 Prime costs $235,000 $2,350,000 Direct labor hours 97,800 978,000 Machine hours 50,600 506,000 Production runs 100 150 Inspection hours 2,000 3,000 Maintenance hours 2,250 9,000 Department Data...
4. Assume a monopoly faces an inverse demand function of p = 150 - 3Q, and...
4. Assume a monopoly faces an inverse demand function of p = 150 - 3Q, and has a constant marginal and average cost of 30. a. If the monopolist can perfectly discriminate, what is its profit, consumer surplus and total surplus, and what is the deadweight loss of monopoly? b. If the firm is a single-price monopolist, what is its profit, consumer surplus and total surplus, and what is the deadweight loss of monopoly?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT