You've decided to sell sweatshirts for the upcoming game. You project that at a price of $36.48 per sweatshirt, you will be able to sell 120 shirts. In order to sell 230 sweatshirts, you would need to lower the price to $28.67 per sweatshirt. In order to produce the sweatshirts, it costs you $2.12 per sweatshirt on top of fixed costs of $310. What price should you charge in order to earn maximize your profit? Assume linear demand. You should charge a price of $ per sweatshirt in order to maximize your profit. If necessary, round to two decimal places. Do not include units.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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You've decided to sell sweatshirts for the upcoming game. You project that at a price of $36.48 per sweatshirt, you will be able to sell 120 shirts. In
order to sell 230 sweatshirts, you would need to lower the price to $28.67 per sweatshirt. In order to produce the sweatshirts, it costs you $2.12 per
sweatshirt on top of fixed costs of $310. What price should you charge in order to earn maximize your profit?
Assume linear demand.
You should charge a price of $ per sweatshirt in order to maximize your profit.
If necessary, round to two decimal places. Do not include units.
Transcribed Image Text:You've decided to sell sweatshirts for the upcoming game. You project that at a price of $36.48 per sweatshirt, you will be able to sell 120 shirts. In order to sell 230 sweatshirts, you would need to lower the price to $28.67 per sweatshirt. In order to produce the sweatshirts, it costs you $2.12 per sweatshirt on top of fixed costs of $310. What price should you charge in order to earn maximize your profit? Assume linear demand. You should charge a price of $ per sweatshirt in order to maximize your profit. If necessary, round to two decimal places. Do not include units.
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