T - Shirt Profit Two fraternities, Sig Ep and Ep Sig, plan to raise money jointly to benefit homeless people on Long Island. They will
TShirt Profit Two fraternities, Sig Ep and Ep Sig, plan to raise money jointly to benefit homeless people on Long Island. They will sell Yoda vs Alien Tshirts in the student center, but are not sure how much to charge. Sig Ep treasurer Augustus recalls that they once sold shirts in a week at $ per shirt, but Ep Sig treasurer Julius has solid research indicating that it is possible to sell per week at $ per shirt.
a
On the basis of this information, construct a linear demand equation for Yoda vs Alien Tshirts. Hence obtain the weekly revenue R as a function of the unit price x
Rx
b
The university administration charges the fraternities a weekly fee of $ for use of the student center. Write down the weekly profit P as a function of the unit price x
Px
Determine how much the fraternities should charge in dollars per Tshirt to obtain the largest possible weekly profit.
x $ per Tshirt
What is the largest possible weekly profit in dollars
