40. T-Shirt Profit The latest demand equation for your Yoda vs. Alien T-shirts is given by q = -40x + 600, where q is the number of shirts you can sell in one week if you charge $x per shirt. The Student Council charges you $400 per week for use of their facilities, and the T-shirts cost you $5 each. Find the weekly cost as a function of the unit price x. Hence, find the weekly profit as a function of x, and determine the unit price you should charge to obtain the largest possible weekly profit. What is the largest possible weekly profit?

40. T-Shirt Profit The latest demand equation for your Yoda vs. Alien T-shirts is given by q = -40x + 600, where q is the number of shirts you can sell in one week if you charge $x per shirt. The Student Council charges you $400 per week for use of their facilities, and the T-shirts cost you $5 each. Find the weekly cost as a function of the unit price x. Hence, find the weekly profit as a function of x, and determine the unit price you should charge to obtain the largest possible weekly profit. What is the largest possible weekly profit?

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter14: Monopoly

Section: Chapter Questions

Problem 10PA

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