1. The distributor can sell 100 "I SETTING DERIVATIVES-0" T-shirts at $10.00 per shirt but can sell 5 more for each 10 cents she decreases the price. Find the price that maximizes her revenue.
1. The distributor can sell 100 "I SETTING DERIVATIVES-0" T-shirts at $10.00 per shirt but can sell 5 more for each 10 cents she decreases the price. Find the price that maximizes her revenue.
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
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
Chapter11: Price-searcher Markets With High Entry Barriers
Section: Chapter Questions
Problem 12CQ
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Question
![1. The distributor can sell 100 "1 SETTING DERIVATIVES=0" T-shirts at $10.00 per
shirt but can sell 5 more for each 10 cents she decreases the price. Find the price that
maximizes her revenue.
2. Egbert is out in the woods 600 feet north of an east-west road. He wants to get to a
point on the road 2000 feet west of where he is as quickly as possible; he figures he could
walk 4 ft./sec in the woods and 6 ft./sec on the road. Where on the road should Egbert head
to minimize the total time it would take to get to his destination?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9e6fba94-2e4f-4c2a-a4fc-4a10e9625962%2F437f42cc-4519-4a82-8342-fc523f95a452%2F9z26ud_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1. The distributor can sell 100 "1 SETTING DERIVATIVES=0" T-shirts at $10.00 per
shirt but can sell 5 more for each 10 cents she decreases the price. Find the price that
maximizes her revenue.
2. Egbert is out in the woods 600 feet north of an east-west road. He wants to get to a
point on the road 2000 feet west of where he is as quickly as possible; he figures he could
walk 4 ft./sec in the woods and 6 ft./sec on the road. Where on the road should Egbert head
to minimize the total time it would take to get to his destination?
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