ADTF Distributors produces and sells a line of virtual sketch pad devices with a micro-USB connection. They find that their profit when producing and selling x devices changes according to the marginal profit function P'(x) = 60 -0.1x. dollars per device. They also know that when only 10 devices are produced and sold their loss can be expressed as P(10) = -650. (a) Find the function for the total profit from producing and selling x virtual sketch pad devices: P(x) = (b) Use your answer to part (a) to complete the following sentence. When ADTF Distributors produces and sells 603 virtual sketch pad devices, we predict that their total profit will be $ (c) From the profit function, we can conclude that the fixed costs when producing the devices is $ . Given that the variable costs of the production are $27 per device, then the total cost to produce 603 virtual sketch pad devices will be $

ADTF Distributors produces and sells a line of virtual sketch pad devices with a micro-USB connection. They find that their profit when producing and selling x devices changes according to the marginal profit function P'(x) = 60 -0.1x. dollars per device. They also know that when only 10 devices are produced and sold their loss can be expressed as P(10) = -650. (a) Find the function for the total profit from producing and selling x virtual sketch pad devices: P(x) = (b) Use your answer to part (a) to complete the following sentence. When ADTF Distributors produces and sells 603 virtual sketch pad devices, we predict that their total profit will be $ (c) From the profit function, we can conclude that the fixed costs when producing the devices is $ . Given that the variable costs of the production are $27 per device, then the total cost to produce 603 virtual sketch pad devices will be $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

ADTF Distributors produces and sells a line of virtual sketch pad devices with a micro-USB
connection. They find that their profit when producing and selling x devices changes
according to the marginal profit function
P'(x) = 60 -0.1x.
dollars per device. They also know that when only 10 devices are produced and sold their
loss can be expressed as
P(10) = -650.
(a) Find the function for the total profit from producing and selling x virtual sketch pad
devices:
P(x) =
(b) Use your answer to part (a) to complete the following sentence.
When ADTF Distributors produces and sells 603 virtual sketch pad devices, we predict that
their total profit will be $
(c) From the profit function, we can conclude that the fixed costs when producing the devices
is $
Given that the variable costs of the production are $27 per
device, then the total cost to produce 603 virtual sketch pad devices will be $
(d) When 603 devices are produced and sold, the selling price must be $
Hint: First, find the total revenue.

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