Joanne sells silk screened T-shirts at community festivals and craft fairs. Her marginal cost to produce one T-shirt is $3.50. Her total cost to produce 70 T-shirts is $305, and she sells them for $7 each a. Find the linear cost function for Joanne's T-shirt production. b. How many T-shirts must she produce and sell in order to break even? c. How many T-shirts must she produce and sell to make a profit of $7007 a. The linear cost function is C(x)= b. Joanne must produce and sell c. Joanine must produce and sell T-shirts in order to break even, because the number of T-shirts must be a whole number T-shirts to make a profit of $700, because the number of T-shirts must be a whole number

Joanne sells silk screened T-shirts at community festivals and craft fairs. Her marginal cost to produce one T-shirt is $3.50. Her total cost to produce 70 T-shirts is $305, and she sells them for $7 each a. Find the linear cost function for Joanne's T-shirt production. b. How many T-shirts must she produce and sell in order to break even? c. How many T-shirts must she produce and sell to make a profit of $7007 a. The linear cost function is C(x)= b. Joanne must produce and sell c. Joanine must produce and sell T-shirts in order to break even, because the number of T-shirts must be a whole number T-shirts to make a profit of $700, because the number of T-shirts must be a whole number

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 9P

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Concept explainers

Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.

Question

Joanne sells silk screened T-shirts at community festivals and craft fairs. Her marginal cost to produce one T-shirt is $3.50. Her total cost to produce 70 T-shirts is $305, and she sells
them for $7 each
a. Find the linear cost function for Joanne's T-shirt production
b. How many T-shirts must she produce and sell in order to break even?
c. How many T-shirts must she produce and sell to make a profit of $700?
a. The linear cost function is C(x)=
b. Joanne must produce and sell
c. Joanine must produce and sell
T-shirts in order to break even, because the number of T-shirts must be a whole number
T-shirts to make a profit of $700, because the number of T-shirts must be a whole number

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