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