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3- The student council normally sells 1500 school T-shirts for $12 each. This year they plan to decrease the price of the T-shirts. Based
3- The student council normally sells 1500 school T-shirts for $12 each. This year they plan to decrease the price of the T-shirts. Based on student feedback, they know that for every $0.50 decrease in price, 20 more T-shirts will be sold. a) Determine the demand, or price, function. b) Determine the marginal revenue from the sales of 1800 T-shirts. c) The cost of producing x T-shirts is C(x) = -0.0005x + 7.5x + 200. Determine the marginal cost of producing 1800 T-shirts d) Determine the actual cost of producing the 1801st T-shirt. e) Determine the profit and marginal profit from the sale of 1800 T-shirts.
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Step: 1
a Determine the demand or price function The original number of Tshirts sold is 1500 at 12 each For every 050 decrease in price 20 more Tshirts are so...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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