Concept explainers
The monthly profit for a small company that makes long-sleeve T-shirts depends on the price per shirt. If the price is too high, sales will drop. If the price is too low, the revenue brought in may not cover the cost to produce the shirts. After months of data collection, the sales team determines that the monthly profit is approximated by
a. Find the price that generates the maximum profit.
b. Find the maximum profit
c. Find the price(s) that would enable the company to break even.
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