A company produces and sells shirts. The xed costs are $7000 and the variable costs are $2 per shirt. (a) Shirts are sold for $12 each. Find cost and revenue as functions of the quantity of shirts, (1. Cost is C(q) = 2 q + 7000 (b) The company is considering changing the selling price of the shirts. Demand is q = 2000 4019, where p is price in dollars and q is the number of shirts. What quantity is sold at the current price of $12? What prot is realized at this price? At the current price, the company sells 1520 shirts. The prot realized at his price is $ 8200 (c) Use the demand equation to write cost and revenue as functions of the price, p. Then write prot as a function of price. Cost is C(p) = 80 p + 11000 Revenue is R(p) = 480 p + 24000 Prot is Mp) = 400 p + 13000 ((1) Use a graphing utility to graph prot against price. Find the price that maximizes prots. What is this prot? The price that maximizes prots is $ and the prot is $