Math Problem Statement
The latest demand equation for your Yoda vs. Alien T-shirts is given by q = −50x + 700 where q is the number of shirts you can sell in one week if you charge $x per shirt. The Student Council charges you $100 per week for use of their facilities, and the T-shirts cost you $8 each. Find the weekly cost as a function of the unit price x. C(x) =
Hence, find the weekly profit as a function of x. P(x) =
Determine the unit price (in dollars per T-shirt) you should charge to obtain the largest possible weekly profit. x = $ per T-shirt What is the largest possible weekly profit (in dollars)? $
Solution
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Math Problem Analysis
Mathematical Concepts
Algebra
Linear Equations
Quadratic Equations
Optimization
Formulas
Demand equation: q = -50x + 700
Cost function: C(x) = -400x + 5700
Profit function: P(x) = -50x^2 + 1100x - 5700
Optimization using the derivative: P'(x) = -100x + 1100
Theorems
First Derivative Test for Optimization
Suitable Grade Level
Grades 10-12
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