4. Windies Cricket manufactures Windies supporter jerseys. The quantity q, of thesejerseys demanded weekly is related to the wholesale price per jersey p, by thefollowing equation:P = 0.006q+15The weekly total cost incurred by Windies Cricket for producing q jerseys is:C(q) = 38q - 0.02q² + 30,000d. Will Windies Cricket record a loss or profit if they were to produce and sell 2450jerseys?e. If Windies Cricket wishes to maintain a total cost less than $42,000.00, whatrange(s) of Windies jerseys should be produced.f. Calculate the equilibrium price and quantity for Windies jerseys.

The collection of economic indicators that the market is often steered toward by demand and supply…

Windies Cricket manufactures Windies supporter jerseys. The quantity q, of these jerseys demanded weekly is related to the wholesale price per jersey p, by the following equation: p = -0.006q+15 The weekly total cost incurred by Windies Cricket for producing q jerseys is: C(q) = 38q-0.02q² + 30,000

Windies Cricket manufactures Windies supporter jerseys. The quantity q, of these jerseys demanded weekly is related to the wholesale price per jersey p, by the following equation: p = -0.006q+15 The weekly total cost incurred by Windies Cricket for producing q jerseys is: C(q) = 38q-0.02q² + 30,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4. Windies Cricket manufactures Windies supporter jerseys. The quantity q, of these
jerseys demanded weekly is related to the wholesale price per jersey p, by the
following equation:
P = 0.006q+15
The weekly total cost incurred by Windies Cricket for producing q jerseys is:
C(q) = 38q - 0.02q² + 30,000
d. Will Windies Cricket record a loss or profit if they were to produce and sell 2450
jerseys?
e. If Windies Cricket wishes to maintain a total cost less than $42,000.00, what
range(s) of Windies jerseys should be produced.
f. Calculate the equilibrium price and quantity for Windies jerseys.

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