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14. A shop which sells T- shirts has a demand function and a total cost function given by the equations: P = 240 – 10 Q and TC = 120 + 8 Q. Write down the equations for TR and Profit. Write down equation for MR and MC. Calculate the number of T- shirts which must be sold to maximize profit and Revenue. c)

14. A shop which sells T- shirts has a demand function and a total cost function given by the equations: P = 240 – 10 Q and TC = 120 + 8 Q. Write down the equations for TR and Profit. Write down equation for MR and MC. Calculate the number of T- shirts which must be sold to maximize profit and Revenue. c)

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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14. A shop which sells T- shirts has a demand function and a total cost function given by the equations: P = 240 – 10 Q and TC = 120 + 8 Q. Write down the equations for TR and Profit. Write down eguation for MR and MC. Calculate the number of T- shirts which must be sold to maximize profit and Revenue. a) b) c)
Transcribed Image Text:14. A shop which sells T- shirts has a demand function and a total cost function given by the equations: P = 240 – 10 Q and TC = 120 + 8 Q. Write down the equations for TR and Profit. Write down eguation for MR and MC. Calculate the number of T- shirts which must be sold to maximize profit and Revenue. a) b) c)
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