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17-year-old Arin is a budding entrepreneur. He is always coming up with new business ideas. In early summer 2022, his latest venture is to sell
17-year-old Arin is a budding entrepreneur. He is always coming up with new business ideas. In early summer 2022, his latest venture is to sell quirky t-shirts based on favorite TV shows and movies. Arin is focused on making a high level of profits he is saving for college. Arin is trying to develop a marketing strategy to help her achieve his goals. Last year Arin helped a friend with a customized t-shirts business. This year he wants to run his own business. His parents are his primary investors, but they expect him to pay for almost everything related to the business. Arins older brother helped him built an Instagram merchant profile for a nominal fee of $100. Arin had to purchase other supplies as well. Arin can get cotton t-shirts in any color from a wholesaler for $5 per unit. Also, he rented a hand press to create printed t-shirts for 6 months for $1000 from his brothers friend. The hand press can be programmed using a graphic design software. Arins brother is a graphic designer and he agreed to charge $7.05 per t-shirt. The additional costs include packaging and shipping worth $2.50 per t-shirt. Arin plans to charge $25 per t-shirt. Arin is looking for some help with some of his calculations and in determining a price. Answer the following questions:
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