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6) This year, the student council president has decided to raise funds for the school prom by selling Justin Bieber T-shirts. In the past, they've sold an average of 1500 shirts at about $12 each. This year, they plan to decrease the price of the shirts. Based on student feedback, for every $0.50 decrease in price, 20 more T-shirts will be sold. a) Determine the demand (price) function in terms of x, the number of t-shirts sold b) Determine the marginal revenue function. Then, determine the marginal revenue from the sales of 1800 T-shirts and interpret its meaning.

6) This year, the student council president has decided to raise funds for the school prom by selling Justin Bieber T-shirts. In the past, they've sold an average of 1500 shirts at about $12 each. This year, they plan to decrease the price of the shirts. Based on student feedback, for every $0.50 decrease in price, 20 more T-shirts will be sold. a) Determine the demand (price) function in terms of x, the number of t-shirts sold b) Determine the marginal revenue function. Then, determine the marginal revenue from the sales of 1800 T-shirts and interpret its meaning.

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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6) This year, the student council president has decided to raise funds for the school prom by selling Justin Bieber T-shirts. In the past, they've sold an average of 1500 shirts at about $12 each. This year, they plan to decrease the price of the shirts. Based on student feedback, for every $0.50 decrease in price, 20 more T-shirts will be sold. a) Determine the demand (price) function in terms of x , the number of t-shirts sold b) Determine the marginal revenue function. Then, determine the marginal revenue from the sales of 1800 T-shirts and interpret its meaning.
Transcribed Image Text:6) This year, the student council president has decided to raise funds for the school prom by selling Justin Bieber T-shirts. In the past, they've sold an average of 1500 shirts at about $12 each. This year, they plan to decrease the price of the shirts. Based on student feedback, for every $0.50 decrease in price, 20 more T-shirts will be sold. a) Determine the demand (price) function in terms of x , the number of t-shirts sold b) Determine the marginal revenue function. Then, determine the marginal revenue from the sales of 1800 T-shirts and interpret its meaning.
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