At the Super Bowl, the demand for game-day t-shirts is given by p = 50 – 4 In (+1) - 100 where p is the price of the shirt in dollars and x is the number of shirts demanded a) At what price can 5000 t-shirts sold? b) Find the marginal demand for 5000 t-shirts? c) Find the revenue function,
At the Super Bowl, the demand for game-day t-shirts is given by p = 50 – 4 In (+1) - 100 where p is the price of the shirt in dollars and x is the number of shirts demanded a) At what price can 5000 t-shirts sold? b) Find the marginal demand for 5000 t-shirts? c) Find the revenue function,
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:At the Super Bowl, the demand for game-day t-shirts is given by
= 50 – 4 In (;
100
+1)
where p is the price of the shirt in dollars and x is the number of shirts demanded.
a) At what price can 5000 t-shirts sold?
b) Find the marginal demand for 5000 t-shirts?
c) Find the revenue function.
d) Find the marginal revenue from selling 5000 t-shirts.
e) If each t-shirts costs $4, find the profit function.
f) What price should be charged for a t-shirts to maximize profit?
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