Answer to Question #240041 in Economics for Lamz

Question

Mary sells T-shirts in a stall at the shopping centre. When she charges E15 per T-shirt she does not sell anything, however she noticed that every time she reduces the selling prince by El , sells 15 more t-shirts per hour. A T-shirt cost E4.50 to make and she is charged E130 a day for her stall. Mary opens her stall from     to 8pm

a.  Write the equation to calculate the maximum profit

b. Using the equation write in a table the price and profit for price ranging from E 15 to E-3

c.  Plot a graph and draw a diagram to represent the profit

d. What is the maximum possible profit? What should be the selling price to achieve it?

Answer 1

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