Mary sells T-shirts in a stall at the shopping centre. When she charges £15 per T-shirt she does not sell anything, however she noticed that every time she reduces the selling prince by £1, sells 15 more t-shirts per hour. A T- shirt cost £4.50 to make and she is charged £130 a day for her stall. Mary opens her stall from 10am to 8pm. a. Write the equation to calculate the maximum profit b. Using the equation write in a table the price and profit for price ranging from £15 to £3 c. Plot a graph and draw a diagram to represent the profit d. What is the maximum possible profit? What should be the selling price to achieve it?

Mary sells T-shirts in a stall at the shopping centre. When she charges £15 per T-shirt she does not sell anything, however she noticed that every time she reduces the selling prince by £1, sells 15 more t-shirts per hour. A T- shirt cost £4.50 to make and she is charged £130 a day for her stall. Mary opens her stall from 10am to 8pm. a. Write the equation to calculate the maximum profit b. Using the equation write in a table the price and profit for price ranging from £15 to £3 c. Plot a graph and draw a diagram to represent the profit d. What is the maximum possible profit? What should be the selling price to achieve it?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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