0. What price should you charge in order to earn a profit of $2600? ume linear demand. should charge a price of $ per sweatshirt in order to earn a profit of $2600. ere is more than one correct answer, separate them by a comma. ecessary, round to two decimal places. Do not include units.
0. What price should you charge in order to earn a profit of $2600? ume linear demand. should charge a price of $ per sweatshirt in order to earn a profit of $2600. ere is more than one correct answer, separate them by a comma. ecessary, round to two decimal places. Do not include units.
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter23: Price-searcher Markets With Low Entry Barriers
Section: Chapter Questions
Problem 3CQ
Related questions
Question
Help
![You've decided to sell sweatshirts for the upcoming game. You project that at a price of $34.08 per sweatshirt, you will be able to sell 110 shirts. In order to sell 330
sweatshirts, you would need to lower the price to $18.24 per sweatshirt. In order to produce the sweatshirts, it costs you $2.94 per sweatshirt on top of fixed costs of
$380. What price should you charge in order to earn a profit of $2600?
Assume linear demand.
You should charge a price of $ per sweatshirt in order to earn a profit of $2600.
If there is more than one correct answer, separate them by a comma.
If necessary, round to two decimal places. Do not include units.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa0e48c18-9872-4fda-989b-7f2d5e724346%2F0574ec57-ec1c-4c48-9754-52a0be5f203a%2F73qh5m2_processed.jpeg&w=3840&q=75)
Transcribed Image Text:You've decided to sell sweatshirts for the upcoming game. You project that at a price of $34.08 per sweatshirt, you will be able to sell 110 shirts. In order to sell 330
sweatshirts, you would need to lower the price to $18.24 per sweatshirt. In order to produce the sweatshirts, it costs you $2.94 per sweatshirt on top of fixed costs of
$380. What price should you charge in order to earn a profit of $2600?
Assume linear demand.
You should charge a price of $ per sweatshirt in order to earn a profit of $2600.
If there is more than one correct answer, separate them by a comma.
If necessary, round to two decimal places. Do not include units.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Economics: Private and Public Choice (MindTap Cou…](https://www.bartleby.com/isbn_cover_images/9781305506725/9781305506725_smallCoverImage.gif)
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
![Microeconomics: Private and Public Choice (MindTa…](https://www.bartleby.com/isbn_cover_images/9781305506893/9781305506893_smallCoverImage.gif)
Microeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506893
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
![Economics: Private and Public Choice (MindTap Cou…](https://www.bartleby.com/isbn_cover_images/9781305506725/9781305506725_smallCoverImage.gif)
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
![Microeconomics: Private and Public Choice (MindTa…](https://www.bartleby.com/isbn_cover_images/9781305506893/9781305506893_smallCoverImage.gif)
Microeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506893
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning